Independent pays €25.5m for stake in Indian publisher

INDEPENDENT News & Media (INM) confirmed yesterday it is to buy a 26% stake in Indian newspaper publisher Jagran Prakashan for a modest €25.5 million.

Independent pays €25.5m for stake in Indian publisher
Thu, 23 Dec, 2004 - 00:00
Brian O'Mahony, Chief Business Correspondent

For the deal to happen however, it will have to get the green light from the Indian government.

That prospect could delay the finalisation of the transaction but market speculation suggests it will be finalised some time next year.

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