Congress calls Adani's NDTV stake a 'move to stifle' independent media

With Adani launching a hostile takeover of NDTV, Congress alleged that the bid by PM Modi's "khaas dost (special friend)" is a brazen move to control and stifle any semblance of an independent media

With billionaire Gautam Adani launching a hostile takeover of NDTV, the Congress on Wednesday alleged that the bid by a company owned by Prime Minister Narendra Modi's "khaas dost (special friend)" is a brazen move to control and stifle any semblance of an independent media.

In a stunning move with the potential to change the media landscape, Adani launched a hostile takeover of NDTV, first with an indirect acquisition of a 29.18 per cent stake in the broadcaster followed by an offer to buy out a further 26 per cent controlling stake.

The owners of New Delhi Television Ltd (NDTV), one of the nation's most popular news channels, said they were completely unaware of the takeover until Tuesday, and that it was done without their consent or any discussion.

In reference to the development, Congress general secretary Jairam Ramesh tweeted, "The news of a deeply over-leveraged company owned by the PM's 'khaas dost' making a hostile takeover bid of a well-known TV news network is nothing but concentration of economic and political power, and a brazen move to control and stifle any semblance of an independent media.