Hermes Emerging Asia Equity Fund has sold 29.29 lakh shares of Sun TV Network amid confusion over the security clearance for its 33 channels by the Centre. The shares were offloaded at an average price of Rs 296.31 a share.
At the end of March, Hermes Investments Funds Plc on behalf of Hermes Emerging Asia Equity Fund held 56.74 lakh shares, or 1.44 per cent, stake in the Kalanithi Maran-promoted firm.
Sun TV is second largest television network in India. It is world's no 1 Tamil channel that features movies, news, serials and shows -- 24 hours a day.
