Not part of any negotiations': UTI AMC on Tata acquisition reports

There were similar reports in August 2022 and UTI AMC had then denied having any knowledge about it

UTI Asset Management Company (AMC) has responded to reports of Tata group getting close to acquiring a majority stake in the AMC, saying that it is not part of any such negotiations.
 

“The company is not part of any such negotiation/events as mentioned in the news report. The company has not taken any decision on the transaction as mentioned in the news item,” the AMC told exchanges on Monday.
 

Earlier, a report claimed that the Tata group is in final talks for acquiring a majority stake in India’s eight-biggest fund house from four state-owned financial entities — Punjab National Bank