Sahara India in Talks With MGM on ‘Mutual Interest’

Sahara India Pariwar is in discussions on “mutual interest” with Metro-Goldwyn-Mayer Inc., a spokesman for the Indian company said in response to reports that it had bid for the studio’s debt.

“It’s too early to comment on the issue,” Abhijit Sarkar, head of corporate communications at Sahara India Pariwar, said in an e-mailed statement today. He didn’t give details.

Sahara India made a $2 billion bid to buy the Hollywood studio’s debt, The Associated Press reported Sept. 17, without saying where it got the information. The offer was made on Sept. 16, a day after MGM got additional time until Oct. 29 to make interest payments on about $4 billion of debt, according to the report.

A spokeswoman for MGM declined to comment, the news agency said, without identifying her.

The Lucknow-based Sahara group owns real estate and media assets and sold its airline division to Jet Airways (India) Ltd. in 2007.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE