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Adani Enterprises, Indian billionaire Gautam Adani's flagship firm, said on Saturday it had acquired a majority stake in news agency Indo-Asian News Service or IANS as the conglomerate tries to consolidate its media presence.
The Adani group said in a statement that upon acquiring a 50.5 per cent stake for 510,000 rupees ($6,140), it would assume full operational and management control of IANS, as per Reuters reports.
The news agency reported a revenue of over 118.6 million rupees in the 2022/23 financial year.