afaqs! news bureau

Tata Sons secure Temasek's 10% stake in Tata Play for Rs 835 crore: Report

With Temasek's exit, Tata Play has now become a 70:30 joint venture between Tata and Walt Disney.

Tata Sons has increased its ownership in Tata Play to 70% by purchasing a 10% stake from Temasek, a Singaporean government-owned investment firm, for approximately $100 million (nearly Rs 835 crore).

According to The Economic Times report, Tata Play has notified the Ministry of Information and Broadcasting (MIB) regarding the alteration in shareholding. As informed by a senior executive, "Tata Sons has bought out Temasek's stake in Tata Play. The DTH company has intimated the MIB about the change in shareholding."

With Temasek's departure, Tata Play is poised to transform into a 70:30 joint venture between Tata and Walt Disney, the latter is also seeking to divest its interest in the TV distribution company. Previously, Tata Sons held a 60% stake in the venture, with Disney owning 30%.

As mentioned in the report, Tata Sons has engaged in discussions with Disney to acquire its 30% stake. Disney's interest in exiting Tata Play stems from DTH being considered a non-core business for the US entertainment giant.

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