The telecom company is looking to buy a majority stake in Dish TV. Telecom operator Bharti Airtel is on the lookout to buy a majority stake in direct-to-home (DTH) company Dish TV India Ltd, promoted by Subhash Chandra’s Essel Group. The telecom company is in the early stages of talks at present.
According to a Mint report, Airtel executives have been holding discussions with Dish TV parent Essel Group’s founder Subhash Chandra for the deal. The report added that accounting firm EY, hired by Airtel to inspect Dish TV’s financials, has submitted the due diligence report on 25 October.
The announcement comes in the wake of the ongoing boardroom tussle between Dish TV and Yes Bank. Yes Bank holds a 25.63 per cent stake in the company. It has sought the removal of the present board of directors including managing director Jawaher Lal Goel and independent directors Dr Rashmi Aggarwal, Bhagwan Das Narang, Shankar Agarwal, and Ashok Mathai Kurien.
