Hindustan Times is offloading 20 per cent of its equity to Henderson Global Investors, an Australian private equity fund, in the first formal proposal for foreign direct investment in the print media in the news and current affairs sector.
Asia's falling stocks have triggered an exodus of funds from the region.
The Shanghai Composite Index eased 0.2 percent in subdued trading on Wednesday morning.
The committee said the move 'clearly undervalued the company and its long-term growth prospects'.
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