DRB-Hicom denies acquiring Umno's Media Prima stake

DRB-Hicom Bhd today denied a report that the group has acquired an 11 percent stake in listed media company, Media Prima Bhd (MPB), and may acquire another eight percent of MPB that belongs to the Umno.

“We wish to categorically deny the statements in the said report,” DRB-Hicom said in a statement.

Quoting unnamed sources, The Edge Financial Daily had earlier reported that tycoon Syed Mokhtar Shah Syed Nor Albukhary’s DRB-Hicom has acquired Umno’s 11 per cent shareholding in MPB.

It also reported that the group saw 123.02 million shares, equivalent to 11.09 percent of the group’s issued capital of 1.11 billion shares, crossed off-market yesterday.

"According to Bloomberg data, the shares were transacted in one block, worth a total of RM73.81 million," said the report. - Bernama