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    Vikshita Vitthal Gujaran in News

    15 Feb 06:16 AM


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    RIL in talks for stake in Tata Play, may buy Disney's 29.8% share

    Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development. This move is seen as part of RIL’s broader strategy to deepen its footprint in India’s television distribution sector.
    Tata Sons, the holding company of the Tata group, currently holds a 50.2 per cent stake in the satellite television broadcaster. Besides Disney, the remaining shares are owned by Temasek, a Singapore-based fund.
    If the negotiations are successful, it would mark the first time the Tata group and the Ambanis have partnered in a joint venture. It would also extend the reach of JioCinema across the Tata Play platform. Disney had intended to divest its shares during Tata Play's initial public offering, but as the listing was postponed, the American company began exploring other exit strategies.

    Source - Business Standard