Indian financial news provider TV18 said on Thursday that CNBC Asia Pacific may take a stake in the company or one of its units under new Indian rules on news channel foreign ownership.
"CNBC Asia could take a less than 26 percent stake in Television Eighteen (TV18) or any other company which is a part of TV18," Raghav Bahl, managing director of the New Delhi-based company, told a news conference.
If CNBC Asia takes a stake in one of TV18's closely held subsidiaries, the unit would then be listed as part of TV18's restructuring drive, he said.
CNBC Asia and Television Eighteen India Ltd already have a 51-49 per cent joint venture, CNBC India, which is registered in Mauritius. TV18, which recently won a broadcasting licence, produces content for CNBC India.
Government guidelines announced this year capped foreign equity in news channels wanting Indian uplink facilities at 26 per cent.
TV18 closed 3.7 percent higher at Rs 85 on Thursday on the Bombay Stock Exchange, outpacing the main index which slipped 0.53 per cent.
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