Shares Of 'India's Netflix' Is Plunging Despite Unconfirmed Chatter Of Potential Acquisition

Shares of Eros International plc EROS, an Indian based film and entertain company, were trading lower by around 12 percent at $6.98 mid-Thursday afternoon. Eros International co-produces, acquires and distributes Indian language films. The company owns a portfolio of over 2,300 films and holds the digital rights for an additional 700 films. Unconfirmed market chatter surfaced on Thursday that Netflix, Inc. NFLX may be eyeing Eros International as an acquisition target. Back in September 2015, Bloomberg interviewed Eros International's CEO, Kishore Lulla, who said that his company is "exactly where Netflix wants to be in the next three to five years." Netflix's expansion into the Indian market was confirmed by Indian-based media sources, such as Market News and Data brought to you by Benzinga APIs

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