Dish TV denies stake sale talks with Bharti Airtel
A business daily has reported that Bharti Airtel is in early talks with Dish TV promoters to buy their 5.93% stake at Rs 20 a share
Direct to home (DTH) company Dish TV has denied media reports that its promoters are in talks with telecom major Bharti Airtel for stake sale. A business daily has reported that Bharti Airtel is in early talks with Dish TV promoters to buy their 5.93% stake at Rs 20 a share.
In a regulatory filing, Dish TV said that it is not aware of any such transaction. "Dish TV India would like to state that there is no information available with the company which is required to be reported under extant SEBI Regulation (Regulation 30), which may have bearing on the stock price of the company. Further, we would also state that the company is not aware of the transaction which has been reported in the above-mentioned news report."
Bharti Airtel said that it does not comment on media speculation/ reports while noting that it evaluates various opportunities of restructurings, alliances, and acquisitions. "The company (on its own or through its subsidiary companies) evaluates various opportunities of restructurings, alliances/ acquisitions and other similar avenues as per its requirements in the ordinary course of business. As a responsible corporate that follows the highest standards of corporate governance, the Company is fully conscious of its disclosure obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and is committed to act in consonance with the same."
As of June 2021, Airtel Digital TV had 25.76% share of the pay DTH market which comprised 69.86 million subscribers while Dish TV had 23.45% share. In FY21, Bharti Airtel’s DTH revenue had grown 5% to Rs 3,056.2 crore while Dish TV’s revenue declined 8.6% to Rs 3,249.4 crore. For the fiscal under review, Airtel's DTH business EBITDA was up 4% to Rs 2,078 crore while in Dish TV's case it dropped 4.2% to Rs 2,017 crore.
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