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The company is not aware of any negotiations: NDTV refutes takeover buzz

26-July-2014
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The company is not aware of any negotiations: NDTV refutes takeover buzz

New Delhi Television (NDTV) has refuted all speculations and rumours regarding a possible takeover, which have been doing the rounds in media.

In a statement issued, NDTV has clarified to the BSE with reference to the news item appearing in a leading financial daily, titled ‘NDTV shares spurt 20% on takeover buzz, Trai norms’.

The statement reads: “As part of its continuing business strategy to look for growth opportunities, the company is constantly on the lookout for and in discussions with potential partners in various capacities to further its business. The company is not aware of any negotiations or transactions that require disclosure under Clause 36 of the Listing Agreement. The company will make the necessary disclosure as appropriate, if and when any concrete alliance or transaction emerges out of such discussions.”

The statement further adds, “Further, we are not aware of any other information not disclosed to the stock exchanges, which could explain the speculative movement in the trading of the shares of the company as noted in the said article.”

It may be recalled that shares of NDTV had seen a 20 per cent spurt in a single day on July 24, which led to market speculation on a yet unknown entity buying stake in the company, there have also been rumours on the possibility of an acquisition. Incidentally, those rumours were earlier quashed by senior NDTV officials.

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