INM set to enter Indian market

Independent News & Media is reported to be in advanced talks to acquire a stake in an Indian newspaper group.

According to reports yesterday, INM could announce a deal to buy 30% of the shares in Jagran, which owns India’s highest-circulation newspaper.

It would be the first major move into the Indian market.

Jagran is publisher of the 2.6m-selling Hindi-language daily title The Dainik Jagran. The deal is likely to cost “several tens of millions of euro,” the report said.