Redington (India) on Monday said Turkey?s administrative court has ruled in favour of the company, cancelling a directive issued by Capital Markets Board (CMB) of Turkey, which directed Redington’s overseas subsidiary Redington International Holdings to make a mandatory tender offer (MTO) in relation to the acquisition of Arena Bilgisayar Sanayi ve Ticaret AS, Turkey.

Redington India said the court on December 7 had ruled in favour of the company by cancelling the directive issued by Capital Markets Board.

However, Redington said that an initial case filed by an investor against CMB in this regard is still ongoing and the court is yet to pronounce its judgement.

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