A Hostile Media Bid Shows How Asia’s Richest Men Can Align and Dominate a Sector

Broadcaster NDTV is battling a hostile takeover by Adani Group
Tycoons’ co-existence in range of sectors hurts smaller firms

WATCH: We are seeing signs of a possible truce in the rivalry between India’s two richest men. It centers around Gautam Adani’s hostile takeover bid for news broadcaster New Delhi Television Ltd. P R Sanjai reports.Source: Bloomberg

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By Chris Kay and Sanjai P R

September 27, 2022 at 11:30 PM UTC

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Soon after Gautam Adani announced his hostile takeover bid for news broadcaster New Delhi Television Ltd., he was congratulated via tweet by a senior executive at the conglomerate helmed by Mukesh Ambani -- Adani’s billionaire rival and his predecessor as Asia’s richest man.

The public toast from Parimal Nathwani, director of corporate affairs at Ambani-led Reliance Industries Ltd., hinted at an amicable co-existence, if not cooperation, between the established empire and the rising upstart at its heels.