EXPLAINER-The Bitter Takeover Battle Between India apos;s Adani And News...
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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.
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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.
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(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, taxi online Volos Airport greece founder of proxy advisory firm InGovern.
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, taxi online Volos Airport greece according to Indian regulations.
More than a decade ago, NDTV founders Prannoy and Radhika Roy took 4 billion rupees ($50 million) in loans from VCPL, Trikeri guided tours and in exchange issued warrants that allowed the company to acquire a 29.18% stake in the news group.
