Gautam Adani
Indian news media company New Delhi Television saw its shares jump to a 14-year high on Wednesday after it was revealed that Asia’s richest man has acquired almost a third of the business.
Gautam Adani, who has a net worth of US$139.4 billion, has picked up just shy of 30% of NDTV via his Adani Group, and has indicated that it could further invest to take full control of the broadcaster.
A full takeover however looks unlikely at present, with NDTV shares significantly increasing far beyond what Adani said he would pay in a subsequent mandatory open offer.
In an Indian market where billionaires regularly buy up media organisations, NDTV has stated its concern that it could be in a similar situation to the likes of CNN-News18, which is controlled by Mukesh Ambani.
The broadcaster, which is one of the country’s few media groups that is critical of prime minister…
