MUMBAI: Mumbai-based ETC Networks Ltd, a part of Zee Group, has fixed 11 February 2008 as the record date for the scheme of amalgamation.

The amalgamation involves a merger between ETC Networks and Zee Interactive Learning Systems (ZILS). The merger will be effective from 1 April.

The share-swap ratio has been fixed at two shares in ETC for each held in ZILS, as recommended by independent valuer Dalal and Shah. Zee Entertainment Enterprises Ltd (ZEEL) currently holds 55.29 per cent in ETC.

After the merger, ZEEL would hold 51 per cent in the combined entity.

ETC Networks runs a Hindi and a Punjabi music channel. Besides, it is also engaged in web hosting, Internet web portal development, maintenance and broadcasting of satellite television channels.

MUMBAI: Mumbai-based ETC Networks Ltd, a part of Zee Group, has fixed 11 February 2008 as the record date for the scheme of amalgamation.

The amalgamation involves a merger between ETC Networks and Zee Interactive Learning Systems (ZILS). The merger will be effective from 1 April.

The share-swap ratio has been fixed at two shares in ETC for each held in ZILS, as recommended by independent valuer Dalal and Shah. Zee Entertainment Enterprises Ltd (ZEEL) currently holds 55.29 per cent in ETC.

After the merger, ZEEL would hold 51 per cent in the combined entity.

ETC Networks runs a Hindi and a Punjabi music channel. Besides, it is also engaged in web hosting, Internet web portal development, maintenance and broadcasting of satellite television channels.