INOX in talks to buy into Fame India: Sources

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INOX in talks to buy into Fame India: Sources

Industry sources have confirmed that INOX Leisure Ltd is in talks with Fame India for a possible acquisition, reports, CNBC-TV18’s Ekta Batra.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » RELATED NEWS Get ready for more, longer ad breaks at multiplexes Producer-multiplex war over; rev sharing won't hurt: Inox Multiplex operators may sign pact with producers ALSO READ See latest News about INOX Leisure See previous management interviews See what other Experts & Brokerages are saying about INOX Leisure Nifty BSE | NSE 28/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Fame India | Cinemax India | PVR |

Industry sources have confirmed that INOX Leisure Ltd is in talks with Fame India for a possible acquisition, reports, CNBC-TV18's Ekta Batra.

Talks were on for over two months, but the whiff of it has been caught by the market only now. "Fame has been on the block for the past few years," a source said.

The market has been abuzz with news of Fame being in talks with a Mexican multiplex chain, Cinepolis. However, the deal didn't go through as the price quoted was too low.

In September, Tamesek too sold 13.4% holding in a block deal amounting to Rs 14 core, which was picked up by Gulshan & Shail Investments.

According to the industry sources, bigger players in the exhibition space are exploring expansion strategies. However, Cinemax and PVR confirmed their disinterest in the deal.