DRB-HICOM Bhd today denied a report that it has acquired an 11% stake in listed company Media Prima Bhd (MPB) and may acquire another 8% belonging to Umno.

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

The Edge, quoting unnamed sources, said Syed Mokhtar Shah Syed Nor Al-Bukhary’s DRB-Hicom has acquired Umno’s 11% shareholding in MPB.

It also reported that the group saw 123.02 million shares – equivalent to 11.09% of its issued capital of 1.11 billion shares – crossed off the market yesterday.

“According to Bloomberg data, the shares were transacted in one block, worth a total of RM73.81 million.” – Bernama, July 3, 2019.