Bill Ackman says Hindenburg's report on Adani Group 'highly credible'

Bill Ackman says Hindenburg’s report on Adani Group ‘highly credible’

Jan 26 (Reuters) – Billionaire investor William Ackman in a tweet on Thursday mentioned that he discovered short-seller Hindenburg Research’s report on Adani Group “extremely credible and very effectively researched.”

Shares in seven listed group corporations of Adani misplaced $10.73 billion in market capitalisation in India on Wednesday after Hindenburg launched the report, which accused the conglomerate of improper use of offshore tax havens and likewise mentioned it held quick positions within the firm by its U.S.-traded bonds and non-Indian-traded by-product devices.

“We usually are not invested lengthy or quick in any of the Adani corporations… nor have we executed our personal unbiased analysis,” Ackman mentioned in a tweet.

Reporting by Akriti Sharma in Bengaluru; Editing by Dhanya Ann Thoppil

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