Vote against DishTV-Videocon merger: SES asks shareholders

SES cites insufficient disclosures regarding valuation of two companies and swap ratio

Stakeholders’ Empowerment Services (SES), the corporate governance advisory, has asked shareholders of Dish TV India to vote against its proposed merger with Videocon D2h.
 
The scheme of arrangement to give effect to the merger is coming for approval at a court-convened meeting on Friday. About 857.78 million new equity shares of a Rs 1 face value of Dish TV India will be issued to shareholders of VideoconD2h. A valuation report and fairness report has been had but SES says there is a lack of transparency. It argues these fail to disclose the valuation of the transferor company and the