Mahua Moitra’s tweet’s reference was to the indirect acquisition of NDTV by AMG (Adani media group) which happened earlier in the day.
TMC MP Mahua Moitra, on Tuesday, tweeted a screenshot of a watspp message. The message said, “Soon I will be watching Netflix and then I will realize they’ve bought the sofa I’m sitting on.”
The image was captioned “And finally to end the day on a lighter note..”.
And finally to end the day on a lighter note.. pic.twitter.com/2flV9v786T
— Mahua Moitra (@MahuaMoitra) August 23, 2022
Mahua Moitra’s tweet’s reference was to the indirect acquisition of NDTV by AMG (Adani media group) which happened earlier in the day.
The AMG Media Networks Limited, a subsidiary of the Adani group, will acquire a 29.18% stake in New Delhi Television Ltd (NDTV) and launch an open offer for another 26% stake in the media house, the Adani Group’s statement read.
Also Read: “Without Discussion, Consent or Notice”: NDTV On Adani Group Acquiring 29.18% Stakes
Adani entities made a ₹493-crore open offer for a 26% stake in NDTV at ₹294 per share. The media company’s shares closed 5% higher today at ₹376.55 apiece.
The top conglomerate will launch an open offer to acquire up to a 26% stake in the news channel, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
However, Hours after Adani group’s AMG Media Network Limited (AMNL) announced that it has indirectly acquired 29.18% stakes in NDTV, the television network issued a statement. It has been said the move was made without any discussion with the promoters of the company. NDTV said that neither was their consent sought nor were they served any notice.
In its statement, the network said, “Without any further discussion with New Delhi Television Limited (NDTV) or its founder-promoters, Radhika & Prannoy Roy, a notice has been served to them by Vishwapradhan Commercial Private Limited (VCPL), stating that it has acquired control of RRPR Holding Private Limited (RRPRH). This company owns 29.18 percent shares of NDTV. RRPRH has been given two days to transfer all its equity shares to VCPL.
The rights exercised by VCPL are based on the loan agreement it entered into with Radhika and Prannoy Roy, the founders of NDTV, in the year 2009-10.”
The statement further says, “NDTV’s Founders and Company would like to clarify that this exercise of rights by VCPL has been done without any input, negotiation, or consent of the NDTV’s founders and that NDTV’s Founders shall be made aware of this exercise of rights as of NDTV today has been found. Recently, only yesterday, NDTV had informed the stock exchanges that there has been no change in the shareholding of the founders.”
“NDTV has never compromised on its core work, that is, its journalism. We still stand proudly with the same journalism,” it added.
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