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Music streaming service Gaana.com acquired by ENIL for Rs.25-L

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Times Internet and Tencent-backed Gaana has consolidated with Times Group’s listed subsidiary Entertainment Network India Ltd (ENIL), which operates FM radio brand ‘Radio Mirchi’, for INR 25 lakh.Gaana had raised over USD 200 million and was last valued at around USD 580 million. Times Internet used to own a majority in Gaana, while Tencent had an around 35% stake.