Airtel says it’s not in race to acquire Zee Entertainment

Bharti Airtel on Thursday categorically denied that it was in race to acquire Subhash Chandra’s Zee Entertainment. In a statement to the media, a Bharti spokesperson said, “Airtel is not in the race to acquire Zee.”

Bharti’s statement came after news agency Bloomberg ran a story that Reliance Industries’ Mukesh Ambani and Bharti’s Sunil Mittal are considering competing bids for a stake in troubled Indian
television network, Zee Entertainment, quoting unnamed sources.

The Bloomberg report said Bharti Airtel has started due diligence of Zee Entertainment Enterprises and is expected to make a formal proposal soon. The report further said that Reliance Jio

Infocomm is also considering a bid.