Comcast to team up with Blackstone & Lupa Systems to bid for ZEEL stake?

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ZEE Entertainment Enterprises Limited is reportedly in advanced talks two potential bidders for a stake sale in the broadcasting giant.

LiveMint reports that one of the bids is being put together by Comcast teaming up with Blackstone and James Murdoch’s family office Lupa Systems.

ZEEL Managing Director and Chief Executive, Punit Goenka was cited in the publication saying, “We already have one binding offer on table at the moment and there is another one coming up. The family will evaluate and see how the transaction will impact our strengths to take a call soon.”

ZEEL has been scouting for a strategic partner since last year after its promoter, Subhash Chandra confirmed that it planned to sell up to 50% of their equity stake.

Keep it with BizAsiaLive.com for more.

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