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Dish TV clarifies claims that Bharti Airtel is buying a majority share in the company

“We would also state that the Company is not aware of the transaction which has been reported,” Dish TV said in a regulatory filing.

Dish TV India Ltd, a broadcast satellite service provider, said on Thursday that “no information is available” about claims that telecom giant Bharti Airtel was interested in buying a majority share in the company.

Bharti Airtel might buy a majority stake in Dish TV
Bharti Airtel might buy a majority stake in Dish TV

“Dish TV India Limited wishes to state that the Company has no information that is needed to be published under the current SEBI Regulation (Regulation 30) and that may have an impact on the Company’s stock price. We would also want to state that the Company is not aware of the transaction described in the above-mentioned news storey “In response to the earlier report, the company stated in a regulatory filing.

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According to a report in a financial daily quoting sources, Airtel is looking to buy 5.93 percent of Dish TV’s promoter group and 25.63 percent of Yes Bank Ltd’s stake. According to Refinitiv data, the lender is the largest shareholder.

According to the report, the telco offered Rs 20 per share for the promoter group’s 5.93 percent stake in Dish TV. The price is 14 percent higher than Dish TV’s closing price on Wednesday.

According to the article, once the promoters and Yes Bank approve Airtel’s offer, the carrier will offer to buy the remaining shares from other investors until it has a 51 percent stake.

Following the clarification, Dish TV’s stock climbed 4.94 percent to Rs 18.05 in late session on the BSE.

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