Reliance never made us a written offer, says Fame - Business Standard

In another twist to the war of words between Reliance MediaWorks (which operates BIG Cinemas) and theatre chain Fame India, the latter’s managing director, Shravan Shroff, told Business Standard today that “Reliance Media had not made any written offer to me on a higher price”.

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Reliance Media had said in a letter dated February 4 that Fame had rejected its offer to buy stake at Rs 80 per share, which was much higher than what INOX Leisure paid to Fame for the stake (Rs 44 per share). Reliance Media Works CEO Anil Arjun had sought a clarification from Shroff, raising issues of “fairness, transparency and legal compliance, including protection of the interest of minority retail shareholders”.

Full Story: Reliance never made us a written offer, says Fame - Business Standard