Reliance plans to buy 29% stake in Tata Play

Mukesh Ambani's Reliance Industries (RIL) is in talks to acquire a 29.8% stake in Tata Play.

Source: Reliance Industries Chairman Mukesh Ambani

The satellite TV and streaming service currently owned by Walt Disney.

Source: Amazon website

If the deal is finalised, it would mark a significant expansion for RIL into the television distribution sector.

Source: Shutterstock

It will create RIL a major media powerhouse in India, according to media reports.

Source: Reuters

1. Reliance Industries | Sector: Oil Exploration and Production | Market cap: Rs 15.66 lakh crore

Source: RIL

Currently, Tata Sons, the holding company of the Tata group, holds a majority stake (50.2%) in Tata Play.

Source: Facebook Photo

The remaining shares are owned by Disney and Singapore-based investment firm Temasek, the report added.

Source: Facebook

This development comes amidst larger merger talks between Disney and Reliance, aiming to create a media behemoth.

Source: Pexel

While Viacom18 could be the biggest shareholder in the combined entity.

Source: X Photo

Reliance will reportedly invest $1.5 billion for a 60% stake, leaving Disney with the remaining 40%.

Source: Republic