Indian billionaire Adani seeks to control NDTV; media group says move without consent

Indian billionaire Adani seeks to control NDTV; media group says move without consent

FILE PHOTO: The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave

Indian billionaire Gautam Adani‘s conglomerate on Tuesday said it seeks to control a majority stake in the popular New Delhi Television (NDTV), a move the TV news group said was executed without its consent.

A unit of the Adani Group said it had used financial rights in a bid to purchase a 29.18% stake in NDTV, laying out plans for a subsequent open offer for a stake of another 26% in line with Indian regulations.

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