The Hindu : National : Dasmunsi: defer UNI meeting

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Tuesday, Sep 26, 2006
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Dasmunsi: defer UNI meeting

Special Correspondent

This is to secure more time for the Government to study the issue in depth

First intervention since word came of proposal to sell stake Government will make next move after Dasara

NEW DELHI: Union Information and Broadcasting Minister Priyaranjan Dasmunsi on Monday requested United News of India (UNI) to postpone its board meeting scheduled for Tuesday in view of representations sent to the Prime Minister and himself against the proposed sale of a major stake in the news agency to a single media group.

This is the first time the Government has intervened in the stalemate since word came about the decision of the UNI's Board of Directors to sell a major stake to the Essel Group. Mr. Dasmunsi met UNI chairman Manoj Sonthalia and Subhash Chandra of the Essel Group here and requested them to defer the Board meeting "if possible." The decision was to be formalised at Tuesday's meeting.

Talking to reporters later, Mr. Dasmunsi said he sought the postponement to secure more time for the Government to study the issue in depth and interact with the employees and present management of UNI, besides the Essel Group.

Asked whether the two agreed to defer the meeting, Mr. Dasmunsi was unable to comment. "All they said was, `it is your request and we can't say no'." He refused to divulge the Government's next move, stating it would be made after Dasara. "We have to study the UNI charter with the Government, its balance sheet and loss of subscribers over the years. At the same time, in a liberalised environment, it is not right to say that an entity cannot sell its equity."

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