Bharti Airtel and Dish TV India have reportedly cancelled a proposed deal due to differences over valuation. Dish TV, promoted by Essel Group, is now in talks with a global financial investor, which has no operations in the country, to pick up half their stake.
The cash generated from the deal will be used by Essel group to buy back 5% in flagship company Zee Entertainment Enterprises (ZEEL) over the next 12 months. The promoters of ZEEL are also in talks with a US-based strategic investor to pick up a 26% in the company.
Dish TV is India's largest Direct to Home television operator using MPEG 4 DVB S2 and MPEG 2 digital compression technology.
