Airtel denies report it is considering a bid for Zee stake

NEW DELHI: Bharti Airtel, India’s second largest telco on Thursday issued a statement denying a report that it was considering a bid for a stake in Zee Entertainment.

“Airtel is not in the race to acquire Zee,” a Bharti spokesperson said in a statement.

Earlier today, Bloomberg reported that Sunil Bharti Mittal and Mukesh Ambani were considering competing bids for a stake in a troubled Indian television network to augment their content portfolios.

The report said that Airtel started due diligence of Zee Entertainment Enterprises Ltd. and was expected to make a formal proposal soon.