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

Jan 26 (Reuters) – Billionaire investor William Ackman in a tweet on Thursday reported that he observed short-vendor Hindenburg Research’s report on Adani Group “hugely credible and extremely very well investigated.”

Shares in seven listed team organizations of Adani shed $10.73 billion in marketplace capitalization in India on Wednesday just after Hindenburg produced the report, which accused the conglomerate of poor use of offshore tax havens and also explained it held quick positions in the company as a result of its US-traded bonds and non-Indian-traded derivative instruments.

“We are not invested prolonged or short in any of the Adani corporations… nor have we completed our personal impartial research,” Ackman reported in a tweet.

Reporting by Akriti Sharma in Bengaluru Modifying by Dhanya Ann Thoppil

Our Criteria: The Thomson Reuters Rely on Principles.

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