A rumor reported at the Hindustan Times about India's Rediff portal being a takeover target appears to be more of a leap of faith than a hot tip.
Google, Yahoo Interest In Rediff Dismissed
Rediff portal. Just as major online players from the US have entered China to compete with native services, or build local ones, India attracted similar attention.
The potential for one of the big online giants to make a sweeping statement in Mumbai and beyond picked up plenty of attention. A ContentSutra said a Rediff spokesperon denied the report as baseless.
Those rumors have been fueled by speculation in Barron's, citing an analyst discussing general interest from Google and Yahoo in India web properties.
Rediff could be in for a rough morning anyway. ContentSutra, citing Barron's again, said both Rediff and another portal, Sify, have been trading at multiples that far outstrip the ad market in India.
One might think if Rediff takes a big hit from investors on NASDAQ once the market opens, they could be a takeover target. 
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