India's Network 18 Media & Investments Ltd. (532798.BY) said Monday Viacom 18 Media Pvt. Ltd. has offered to buy shares of the Indian Film Co. (IFC.LN) as part of its planned expansion in the entertainment business.

Network 18, which together with certain affiliates owns 80.4% of Indian Film, said in a statement that it will consider tendering the shares if the proposed offer's terms are "attractive" and "beneficial" to its shareholders and partners.

The company said the proposed offer is subject to several preconditions being satisfied and is made in full compliance with the U.K.'s takeover regulations and other applicable rules.

Indian Film is listed on the London Stock Exchange's Alternative Investment Market.

Viacom 18 is an equal joint venture between Network 18 unit IBN18 Broadcast Ltd. (532800.BY) and U.S. media company Viacom Inc. (VIA).

-By Dhanya Ann Thoppil, Dow Jones Newswires; +91-9886929464; dhanya.thoppil@dowjones.com
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