The market regulator Sebi approved Adani Group’s open offer to purchase a further 26% stake in the broadcaster New Delhi Television Ltd. on Monday. This takeover attempt has sparked worries about the deterioration of press freedom in the largest democracy in the world.
According to a statement on SEBI’s website, the Securities & Exchange Board of India accepted the Adani Group’s open offer, enabling Adani to purchase more equity from the media company’s minority owners.
The conglomerate, headed by Gautam Adani, the richest man in Asia, had changed the offer’s launch date to November 22.
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