Embattled Indian media company Zee Telefilms has appointed UBS Warburg as its financial advisor. Zee, which is keen to find new strategic investors to raise finance, has however had a few problems of late and has seen its stock dumped by investors. At one stage, Zee lost 90% of the market value it attained at its peak in the tech boom of 2000. It also shelved plans to do a $1.5 billion ADR.
The ADR was designed to fund Zee supremo Subhash ChandraÆs ambitions to launch satellites and create a roaming satellite mobile phone network across India and the Middle East, as well as expand in the Indian cable TV industry.
Unfortunately, Chandra û...
