Tata Group might purchase out Walt Disney Co.’s stake in Tata Play Ltd. in order that it might take full management of the subscription TV broadcaster, Bloomberg reported on Thursday quoting sources.
Each the businesses are in preliminary talks about shopping for out Disney’s vital minority stake, which might worth Tata Play at about $1 billion or extra, the report mentioned.
The sources added that Tata might determine to not pursue a deal going additional.
At present, Tata Sons, the holding firm of the Tata group, holds a majority stake (50.2%) in Tata Play. The remaining shares are owned by Disney and Singapore-based funding agency Temasek.
Final month, Reliance Industries Restricted, Viacom 18 Media Non-public Restricted (Viacom 18) and The Walt Disney Firm introduced the signing of binding definitive agreements for a three way partnership that may mix the companies of Viacom18 and Star India.
It was additionally reported that RIL is in talks to amass a 29.8% stake in Tata Play, the satellite tv for pc TV and streaming service presently owned by Walt Disney.
Earlier it was reported that Temasek was in superior talks with the Tata Group to promote its 20% stake in Tata Play to the Indian conglomerate that owns the most important stake within the direct-to-home (DTH) firm.
