EXPLAINER-The Bitter Takeover Battle Between India apos;s Adani And News...
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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.
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 Katigiorgis transport politicians that a change of ownership could undermine its editorial integrity.
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.
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