Rediff.com up for sale, in advanced talks with suitors

MUMBAI/AHMEDABAD: Rediff.com, one of the country’s oldest online businesses, may be scoping the market for possible buyers, said two people with direct knowledge of the matter.

Rediff chairman and CEO Ajit Balakrishnan denied this.

“I have not given any mandate to anyone to sell my shares to anyone,” he said. “If anything, after many years of toil, I am seeing signs of life in India’s internet user growth and all of us here at Rediff.com are looking forward to enjoying this future.”

Negotiations are at an advanced stage with at least one of the buyers, said the people cited above.