Adani group says regulatory curbs do not restrict bid to take over NDTV
NDTV is seeking to block the bid by Adani, who is India and Asia's richest man
India's Adani Group said on Friday that regulatory restrictions imposed on New Delhi Television Ltd's (NDTV) founders do not affect the conglomerate's attempt to buy a majority stake in the news network.
NDTV is seeking to block the bid by Adani, who is India and Asia's richest man, citing regulatory restrictions related to what it called an "entirely unexpected" move.
NDTV, founded in 1988, blazed a trail for independent broadcasting in India as the country opened up to free market enterprise. Journalists in the country view Adani's play with trepidation.
"We all feel dejected," a current senior NDTV journalist, who declined to be named as employees are not authorised to speak on the issue, told Reuters.
"The main concern is our editorial independence which we think will be compromised" by the hostile takeover. NDTV runs one of India's most popular news websites along with channels in Hindi and English.