Wrong Number

Today Idea Cellular soared by 8% on the basis of a news report by CNBC TV-18 that it is in merger talks with Vodafone.

Idea Cellular angrily denied the reports and I got the following message on Whats App:

IDEA DENIES MERGER/DEAL with VODAFONE

Regrettably, CNBC-TV18 have put out a wrongheaded baseless story stating that Idea is in talks with Vodafone on stake sale.  This is absolutely untrue and preposterous.  There is no such intent.  We request you not to be swayed by such motivated feed.  Do not lend any credence to it.

Thank you for your understanding and support.

Best regards,
Dr. (Mrs.) Pragnya Ram
Group Executive President – Corporate Communications & CSR

What is interesting is the use of the word “motivated”.

Since CNBC TV-18 is owned by the Reliance Group whose Reliance Jio launch is imminent,did the TV channel deliberately run a false story?

Or is it just a normal day’s job for the fine folks at CNBC ?

One Reply to “Wrong Number”

  1. more likely for fno expiry.. idea broke down below 100.. plenty of technical traders would have shorted.. and lo and behold..2 days before expiry 1 news pop on cnbc causes a short squeeze.. massive profits for some ppl..

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