India: Dish TV denies Bharti sale
December 6, 2021
By Chris Forrester
India’s satellite broadcasting giant Dish TV has firmly denied that it is involved in selling a stake to DTH TV rival Bharti Airtel.
Local reports had suggested that Bharti was buying a 5.93 per cent stake in Dish TV. Dish, in a filing to the Bombay Stock Exchange, said it was 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,” said the statement.
Bharti said it does not comment on media speculation. However, in its formal statement it said: “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.”
Perhaps, in other words, it might be said that Bharti was contemplating a move on Dish TV.
Dish has a 23.45 per cent market share of the Indian DTH market, while Bharti’s Airtel Digital has a 25.76 per cent share.