Dish TV shares up 5%; denies stake sale talks with Bharti Airtel

Shares of Direct to home (DTH) company Dish TV gained as much as 5 percent on Friday on the BSE after the company denied media reports that its promoters are in talks with telecom major Bharti Airtel for a stake sale.

In a regulatory filing, Dish TV said that it is 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.”

According to a Mint report Bharti Airtel wants to acquire the Dish TV promoter stake of 5.9 percent, which is held by the Subhash Chandra family.
Bharti Airtel also said in a regulatory filing that it does not comment on media speculations while adding that as a responsible corporate, the company is fully conscious of its disclosure obligations under SEBI regulations.

“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.”

Shares of Bharti Airtel were trading 1.78 percent lower, or down 13.05 points at 719.10 on the BSE during early trade. CNBCTV18