Zee Telefilms Ltd (ZTL) is looking to partner with a multi-national media group in order to catapult itself into Asian and international markets.

The executive committee of ZTL, which is managed by The Essel Group, has invited proposals from leading international investment and merchant bankers to put together the proposed strategic partnership. The framework of the management structure, including valuations and other related issues, will be discussed in consultation with the chosen bankers and potential partners, a Zee spokesperson told Screen International.

International majors such as Kerry Packer's Channel 9 and US major, MGM have been reported to be short listed as potential partners. Channel 9 already has a beach-head in India as a content provider and MGM and Zee alsready collaborate on a movie channel. Zee is said to be open to any offer even if it is from rivals Star and Sony.

According to the Zee TV spokesperson South Asia is one of the fastest growing regions and media and entertainment are one of the rapidly growing segments in the region. "ZTL is perfectly poised to command the lion's share of this growth so long as the appropriate access to technology, distribution and finance is reinforced," the spokesperson said.

Zee TV stock moved up after the announcement.