News Corp, Walt Disney In Race For UTV

News Corp and Walt Disney have started a race to acquire a stake in bollywood production house UTV Software Communications. Australia-based Macquarie Bank -probably on behalf of News Corp – has acquired about 6.6 per cent in UTV Software Communications, and plans to hike it to 14.99 per cent. Earlier, Walt Disney had acquired 14.99 per cent in UTV. Once both the parties cross 14.99 per cent, that will trigger the open offer requirement resulting in a bidding war. The question is why is News Corp angling for UTV where Walt Disney has already acquired 14.99 per cent.

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