Dish TV clarifies to BSE on news report on likely merger with Airtel DTH ops
Following news reports in a section of media regarding a possible Airtel-Dish TV merger, the Bombay Stock Exchange (BSE) sought clarification from Dish TV India on December 11, 2019. BSE referred to a news report that appeared in www.business-standard.com dated December 11, 2019 with the headline, “Dish TV surges over 8% amid reports DTH operations of co, Airtel may merge”.
In its reply to BSE, Dish TV refuted the news report, stating that it was not aware of the alleged transaction mentioned in the news report.
Dish TV in its statement clarified, “We would like to state that there is no information by the Company, which in our opinion needs to be reported to the stock exchange pursuant to extant SEBI Regulation (Regulation 30), which may have a bearing on the stock price of the Company. Further, we would also state that the Company is not aware of the alleged transaction mentioned in the above mentioned news report.”
As per a report by The Economic Times, which quoted sources, that a three-way deal is in the offing between Bharti Airtel, promoters of Dish TV and private equity firm Warburg Pincus. As part of the deal, the DTH operations are likely to be merged.