NDTV hostile takeover by Adani - How Adaniji is taking over NDTV?

Описание: How Adani is taking over NDTV? Is it a hostile takeover?
Gautam Adani’s media venture has bought the shell company through which Mukhesh Ambani’s Reliance controlled nearly 30 percent of NDTV.

Through an indirect deal, the media arm of Adani Enterprises, led by Gautam Adani, the fourth richest person in the world, will acquire nearly 30 percent of NDTV’s shares over the next two days. The deal has kicked in an open offer, under which the Adani group is open to acquire another 26 percent of the company, making it the majority shareholder and squeezing out Radhika and Prannoy Roy, the founder-promoters who count among the most respected names in the television journalism industry in the country.

Once the process is over, Adani, who has enjoyed a decades-long relationship with Prime Minister Narendra Modi and seen his wealth sky-rocket in the last eight years of the BJP’s government, will become the owner of one of the most trusted news brands in the country.

Rumours of Adani acquiring NDTV have been doing the rounds for close to a year but they were dismissed by the Roys earlier. In September last year, NDTV said in a statement that the company was “not in discussions now, nor has been, with any entity for a change in ownership or a divestment of any sort” and the “founder-promoters, Radhika and Prannoy Roy, who are both journalists, own 61.45 percent of the company and remain in control of it”.

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