The Adani Group is set to become the biggest shareholder of New Delhi Television Ltd. (“NDTV”) with a nearly 38% stake.
Akil Hirani, Managing Partner, was quoted by Bloomberg on the takeover.
“Any acquirer in such a situation can expand its shareholding to anything more than 50% over a few years through the so-called creeping acquisition route as per the Indian rules. In the short term, the acquirer could also vie for board control via appointment of additional directors, which is a few-months long process at most, provided the matter does not end up in court”.
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