DEN Networks Limited exits TV commercial business
Pimex will end up holding 100 % shareholding of Macro Vijendra Singh is the promoter and director of Pimex.
He has over 15 years of entrepreneurial exposure and currently driving the technology initiatives and the product R&D roadmap for Pantel Technologies and Pimex Broadcast.
Pimex will take over all the existing liabilities & dues of Macro and both together aspire to be one of the significant players in the TV shopping business. The name of DEN and Snap deal will be dropped off from the branding. Den has already made provisions for its investments in Macro inits books of accounts in the previous financial year and hence, there will be no any further impact in the profit and loss account.
Den defined its core business as cable & wired broadband services in India, sometime back. With the sale DEN will now be focusing on the Indian Cable and Broadband Industry.
Image:Wikimedia commons
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