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DVD Multi region DIVX player

Hi

I am an Indian living in the UK and have lots of DIVX movies & dvds from India which don't run on my current DVD player.
I am tired of watching on my little laptop screen and am currently looking for a DIVX /DVD player.
Does DIVX have region coding like DVDs?
Do I have to change my TV to use Multi region DVD player?
and lastly,
Do any moneysavers have tips on what to buy and what to avoid?

My budget is £50 or so.

Thanks

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