DEN denies RIL stake reports

DEN Networks, a cable TV distribution company has denied the media reports, which talked about 'Reliance Industries Limited's (RIL) plan of acquiring 26 percent stake in the company.

''The company denies the news that it is currently in discussion for RIL to pick up 26 per cent stake in DEN networks. It is the company's policy not to comment on speculative media reports and any information on strategic investments in the company will be brought to the notice of the stock exchange,'' stated the company.

The exchange had written to the company in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded.

DEN has a 50-50 joint venture with News Corp's Star TV group called Star DEN which was formed in 2008.