Cyprus co buys 7.5% NDTV pie

Cyprus-based GA European Investments' proposal to acquire 7.5 per cent stake in NDTV for Rs 116 crore (Rs 1.16 billion), was among the 38 FDI proposals worth Rs 437 crore (Rs 4.37 billion) cleared by the government on Friday.

The proposal from Malaysia's IJM Corporation to induct equity worth Rs 146 crore (Rs 1.46 billion) in construction company Jaipuria- Mahua Tollway was the biggest FDI proposal that was approved by Finance Minister P Chidambaram on Friday, on recommendations of the Foreign Investment Promotion Board.