Radhika and Love Roy Will sell 27.26% stake NDTV It gave 64.71% of NDTV to an entity owned by Adani, NDTV’s regulatory filings showed.
Adani already holds over 37% in NDTV following an open offer and earlier acquisition of a company owned by the founders.
“AMG Media Network, after the recent open offer, is now the single largest shareholder of NDTV. Consequently, with mutual agreement we have decided to transfer our majority stake in NDTV to AMG Media Network,” the founders said in a statement. .
“Since the launch of the open offer, our discussions with Gautam Adani have been constructive; he has positively and openly accepted all the suggestions we have made,” they added.
Radhika and Prannoy Roy will retain a combined 5% stake in NDTV.
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