Adani Buying 29.18% Stake In NDTV; Check Out Internet Reactions

New Delhi: Adani Enterprises said on Tuesday its media unit will indirectly buy a 29.18% stake in New Delhi Television Ltd and launch an open offer for another 26% stake in the media house. Adani entities made Rs 493-crore open offer for 26% stake in NDTV at Rs 294 per share. The media company’s shares closed 5% higher on Tuesday at Rs 376.55 apiece.

Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders, Business Standard reported.

A public announcement has been made by JM Financial Ltd, which is managing the offer on behalf of the acquirers.

“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms,” Sanjay Pugalia, CEO, AMG Media Networks Limited was quoted as saying. “AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform to deliver on our vision. We look forward to strengthening NDTV’s leadership in news delivery.”

Let’s take a look at what netizens are saying: