- India’s richest man, Adani, seeks to expand media business
- NDTV says Adani unit moved without its consent
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BENGALURU, Aug 23 (Reuters) – Indian billionaire Gautam Adani’s conglomerate on Tuesday said it seeks to control a majority stake in the popular New Delhi Television (NDTV.NS) (NDTV), a move the TV news group said was executed without its consent.
A unit of the Adani Group said it had used financial rights in a bid to purchase a 29.18% stake in NDTV, laying out plans for a subsequent open offer for a stake of another 26% in line with Indian regulations.
Hours after the announcement, NDTV issued a statement saying the move by the Adani Group “was executed without any input from, conversation with, or consent of the NDTV founders.”
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