KUALA LUMPUR: DRB-Hicom Bhd has dismissed a news report suggesting that the company has acquired a stake in Media Prima Bhd.
"We wish to categorically deny the statements in the said report," DRB-Hicom said in a press statement today.
Media Prima operates four free-to-air TV channels, four radio stations and publishes three newspapers.
On Tuesday, a block of 123.02 million shares in Media Prima was transacted at the price of 60 sen a share.
Sources to StarBiz that the buyer is billionaire Tan Sri Syed Mokhtar Al-Bukhary, who is also the biggest shareholder in DRB-Hicom.
DRB-Hicom is one of the country's biggest conglomerate with core businesses in automotive, services and property.
Syed Mokhtar controls a 55.9% stake in DRB-Hicom through a privately owned company. He also has stakes in media companies The Malaysian Reserve and Utusan Melayu Bhd.
https://www.thestar.com.my/business/business-news/2019/07/03/drbhicom-says-it-is-not-the-buyer-of-media-prima-stake/
