EXPLAINER-The Bitter Takeover Battle Between India apos;s Adani And News...
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NEW DELHI, transportation in greece Vergina 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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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 private taxi Dion greece politicians that a change of ownership could undermine its editorial integrity.
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.
(Reporting by Munsif Vengattil in New Delhi, M. One option would be for taxi from Vergina port to acropolis the NDTV founders to make their own open offer at a higher price to try to increase their stake and challenge Adani, best day trips Dion said Shriram Subramanian, founder of proxy advisory firm InGovern.
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.
