EXPLAINER-The Bitter Takeover Battle Between India apos;s Adani And News...
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| - | By Munsif Vengattil and M.<br><br>Sriram<br> NEW DELHI, Aug 25 (Reuters) - When India's richest man Gautam Adani this week unveiled plans for his firm to control a majority stake in New Delhi Television (NDTV), it was the stealth approach in executing the transaction that drew most attention in the news industry.<br> But NDTV, one of nation's most popular news networks, is seeking to block the takeover attempt by the billionaire tycoon's group, saying regulatory restrictions prevent the bid from proceeding.<br> NDTV is regarded by some as one of the few independent voices in India's rapidly polarising media landscape, and the takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine its editorial integrity.<br> This is how the firm controlled by the Adani family went about planning the takeover and how NDTV is trying to resist it.<br> A COMPANY CALLED VCPL<br> Much of the spotlight on Adani's two-stage takeover bid is on one, little-known Indian company: Vishvapradhan Commercial Private Limited (VCPL), founded in 2008.<br> More than a decade ago, NDTV founders Prannoy and Radhika Roy took 4 billion rupees ($50 million) in loans from VCPL, and in exchange issued warrants that allowed the company to acquire a 29.18% stake in the news group.<br> Those warrants were convertible at any time.<br><br>Adani Group said on Aug. 23 it had acquired VCPL and exercised those rights, which should give it the stake in NDTV.<br> Adani Group's takeover bid is without NDTV's consent, the news organisation said hours later. Internally, an NDTV memo referred to the move as "entirely unexpected."<br> AN OPEN OFFER PLAN<br> Adani Group's indirect control of a stake above 25% means it must put forward an open offer to purchase at least 26% more from existing shareholders in NDTV to give them an opportunity to exit, according to Indian regulations.<br> That's what Adani did.<br><br>Laying out its plan, the Adani Group said the open offer will be at 294 rupees per NDTV share for a total consideration of up to $62 million.<br> If the two-stage plan works, Adani Group would get 55.18% of the popular news network.<br> NDTV PUSHES BACK<br> Although NDTV has said Adani's move was without its consent, four lawyers who spoke to Reuters said Adani Group was well within its legal rights in the deal process so far.<br> NDTV had said it was given two days to transfer the shares due to the Adani Group after it made the takeover bid.<br> But as that deadline neared, NDTV has threw a spanner in the works by disclosing on Aug.<br><br>25 that its founders were currently prohibited from dealing in India's securities market.<br> That was due to a 2020 regulatory decision in a case of suspected insider trading of NDTV shares, the news network said, meaning it can't tranfer shares Adani was trying to secure.<br> The regulatory restriction is in place until November this year, and a lawyer said NDTV's effort at best can "stall or slow down the process" of Adani's takeover.<br> Other lawyers have said NDTV should have foreseen the situation as its founders had issued warrants to VCPL years ago and there was always a possibility a company could execute them to acquire a stake.<br> One option would be for the NDTV founders to make their own open offer at a higher price to try to increase their stake and challenge Adani, said Shriram Subramanian, founder of proxy advisory firm InGovern. (Reporting by Munsif Vengattil in New Delhi, M.<br><br>Sriram and Abhirup Roy in Mumbai and Nivedita Bhattacharjee in Bengaluru; Editing by Aditya Kalra, Jamie Freed and Kim Coghill)<br><br><br><br>If you loved this post and you want to receive more info about [https://en.volos-minivan.eu/ATHENS-0000000164-online-taxi-Trikeri.html online taxi Trikeri] please visit our own internet site. | + | On the Beijing subway, many seats were empty on Friday night during what should have been rush hour, even though the city this week scrapped the need to show negative tests to ride trains or enter offices.<br><br>It's because - sad, but still true - we're judged more harshly than men on how we look. Which means that we can get away with bikinis - obviously not the buttock-exposing, dental floss affairs you see on Rio's Ipanema beach - well into our 50s, even 60s, without frightening the horses too muc<br><br><br><br>Little more than a month after the National Health Commission stressed commitment to its strict virus containment policy, saying it was "putting people and lives first", authorities have changed tack and are now telling people they have less to fear.<br><br><br><br>More than a decade ago, NDTV founders Prannoy and Radhika Roy took 4 billion rupees ($50 million) in loans from VCPL, taxi Delphi greece and in exchange issued warrants that allowed the company to acquire a 29.18% stake in the news group.<br><br>(Reporting by Munsif Vengattil in New Delhi, M. One option would be for the NDTV founders to make their own open offer at a higher price to try to increase their stake and challenge Adani, said Shriram Subramanian, founder of proxy advisory firm InGovern.<br><br><br><br>Rihanna puts on a busty display in a tight red minidress as... Maura Higgins showcases her lithe frame in a skimpy floral... 'It's like the Chanel purse I spent a fortune on... 'I'm embarrassed to say it!' Claudia Winkleman admits she...<br><br>I think you look toothsome as ever in your scanties and you amply support (no pun intended!) my theory - which is that if a woman has breasts, and is under 60 or so, a bikini is almost always best.<br><br>Zhong Nanshan, a prominent Chinese epidemiologist, said that 99% of people now infected with the virus would recover in 7 to 10 days, in comments reported by the People's Daily, controlled by the ruling Communist Party.<br><br>Adani Group's indirect control of a stake above 25% means it must put forward an open offer to purchase at least 26% more from existing shareholders in NDTV to give them an opportunity to exit, according to Indian regulations.<br><br>I was talking to her about how I want to get rid of our bed, but I said to her: "How are people going to look at me for that?" If I do want to move forward, I've got to take these steps. Kelsey revealed: 'Kate was a really great person to speak to.<br><br>BEIJING, Dec 9 (Reuters) - Judging by Friday's quiet streets in China's capital Beijing and taxi Trikeri greece the reluctance of some businesses to drop COVID curbs, enduring anxieties about the coronavirus are likely to hamper a speedy return to health for the world's second-largest economy.<br><br>7, 2017, Vergina airport to city taxi cost that he has been forced to retire from touring due to exhaustion. 27, 2015, file photo, Al Jarreau performs at the Rock in Rio music festival in Rio de Janeiro, Brazil. Jarreau announced on his website Feb. (AP Photo/Felipe Dana, Fil<br><br>Although the government on Wednesday loosened key parts of its strict "zero-COVID" policy that has kept the pandemic largely at bay for the past three years, many people appear wary of being too quick to shake off the shackles.<br><br>Boggans was waiting for his then-girlfriend to collect him when an argument broke out with the 44-year-old, who was knocked to the ground during the skirmish. CCTV footage later captured the electrician walking away from the scene.<br><br>Amid the caution, state-broadcaster CCTV announced further easing, with tourism and entertainment venues - including theatres, libraries, internet cafes and table game centres no longer requiring COVID tests and health codes.<br><br><br><br><br><br>NEW DELHI, Aug 25 (Reuters) - When India's richest man Gautam Adani this week unveiled plans for his firm to control a majority stake in New Delhi Television (NDTV), it was the stealth approach in executing the transaction that drew most attention in the news industry.<br><br>Yet China has been anything but placid during the past few weeks, with protests against COVID curbs in many cities that marked the biggest show of public discontent since President Xi Jinping came [https://en.volos-minivan.eu/ATHENS-0000000040-taxi-Volos-airport-to-piraeus-price.html taxi Volos airport to piraeus price] power a decade ago.<br><br>NDTV is regarded by some as one of the few independent voices in India's rapidly polarising media landscape, taxi prices Trikeri greece and taxi Volos greece the takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine its editorial integrity.<br><br>magazine, ‘relaxing on a Spanish cruise in a revealing leopard-print number on Tuesday Elizabeth Hurley has revoked her self imposed ban on wearing a bikini and has been spotted, according to my primary source of world news in August, i.e. |
Revisión de 07:12 28 feb 2023
On the Beijing subway, many seats were empty on Friday night during what should have been rush hour, even though the city this week scrapped the need to show negative tests to ride trains or enter offices.
It's because - sad, but still true - we're judged more harshly than men on how we look. Which means that we can get away with bikinis - obviously not the buttock-exposing, dental floss affairs you see on Rio's Ipanema beach - well into our 50s, even 60s, without frightening the horses too muc
Little more than a month after the National Health Commission stressed commitment to its strict virus containment policy, saying it was "putting people and lives first", authorities have changed tack and are now telling people they have less to fear.
More than a decade ago, NDTV founders Prannoy and Radhika Roy took 4 billion rupees ($50 million) in loans from VCPL, taxi Delphi greece and in exchange issued warrants that allowed the company to acquire a 29.18% stake in the news group.
(Reporting by Munsif Vengattil in New Delhi, M. One option would be for the NDTV founders to make their own open offer at a higher price to try to increase their stake and challenge Adani, said Shriram Subramanian, founder of proxy advisory firm InGovern.
Rihanna puts on a busty display in a tight red minidress as... Maura Higgins showcases her lithe frame in a skimpy floral... 'It's like the Chanel purse I spent a fortune on... 'I'm embarrassed to say it!' Claudia Winkleman admits she...
I think you look toothsome as ever in your scanties and you amply support (no pun intended!) my theory - which is that if a woman has breasts, and is under 60 or so, a bikini is almost always best.
Zhong Nanshan, a prominent Chinese epidemiologist, said that 99% of people now infected with the virus would recover in 7 to 10 days, in comments reported by the People's Daily, controlled by the ruling Communist Party.
Adani Group's indirect control of a stake above 25% means it must put forward an open offer to purchase at least 26% more from existing shareholders in NDTV to give them an opportunity to exit, according to Indian regulations.
I was talking to her about how I want to get rid of our bed, but I said to her: "How are people going to look at me for that?" If I do want to move forward, I've got to take these steps. Kelsey revealed: 'Kate was a really great person to speak to.
BEIJING, Dec 9 (Reuters) - Judging by Friday's quiet streets in China's capital Beijing and taxi Trikeri greece the reluctance of some businesses to drop COVID curbs, enduring anxieties about the coronavirus are likely to hamper a speedy return to health for the world's second-largest economy.
7, 2017, Vergina airport to city taxi cost that he has been forced to retire from touring due to exhaustion. 27, 2015, file photo, Al Jarreau performs at the Rock in Rio music festival in Rio de Janeiro, Brazil. Jarreau announced on his website Feb. (AP Photo/Felipe Dana, Fil
Although the government on Wednesday loosened key parts of its strict "zero-COVID" policy that has kept the pandemic largely at bay for the past three years, many people appear wary of being too quick to shake off the shackles.
Boggans was waiting for his then-girlfriend to collect him when an argument broke out with the 44-year-old, who was knocked to the ground during the skirmish. CCTV footage later captured the electrician walking away from the scene.
Amid the caution, state-broadcaster CCTV announced further easing, with tourism and entertainment venues - including theatres, libraries, internet cafes and table game centres no longer requiring COVID tests and health codes.
NEW DELHI, Aug 25 (Reuters) - When India's richest man Gautam Adani this week unveiled plans for his firm to control a majority stake in New Delhi Television (NDTV), it was the stealth approach in executing the transaction that drew most attention in the news industry.
Yet China has been anything but placid during the past few weeks, with protests against COVID curbs in many cities that marked the biggest show of public discontent since President Xi Jinping came taxi Volos airport to piraeus price power a decade ago.
NDTV is regarded by some as one of the few independent voices in India's rapidly polarising media landscape, taxi prices Trikeri greece and taxi Volos greece the takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine its editorial integrity.
magazine, ‘relaxing on a Spanish cruise in a revealing leopard-print number on Tuesday Elizabeth Hurley has revoked her self imposed ban on wearing a bikini and has been spotted, according to my primary source of world news in August, i.e.
