Prime Focus rises on sale buzz

The share price of media services company Prime Focus has been rising steadily in the past few weeks on reports that Anil Ambani’s Reliance group had initiated talks with Dalian Wanda Group, Tencent and others to sell Reliance MediaWorks’ entire 35 per cent stake in the company, which could trigger an open offer for another 26 per cent stake. Reliance group had sold around 10 per cent stake in Prime Focus in October 2015. Prime Focus’s share price has risen from ~83 to ~115.60 in April – a rise of 40 per cent in two weeks