KUALA LUMPUR: DRB-Hicom Bhd today denied that the group has acquired an 11% stake in listed media company, Media Prima Bhd (MPB), and may acquire another 8% that belongs to Umno.

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

It was reported earlier today that Syed Mokhtar Shah Syed Nor Albukhary’s DRB-Hicom had acquired Umno’s 11% share in MPB, quoting unnamed sources.

The Edge Financial Daily also reported today that the group saw 123.02 million shares, equivalent to 11.09% of the group’s issued capital of 1.11 billion shares, cross off-market yesterday.

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