Tata Sons increases stake in Tata Play following CCI approval

The Competition Commission of India (CCI) has approved Tata Sons' acquisition of an additional 10% stake in Tata Play from Temasek-owned Baytree Investments as per PTI reports. This action has raised Tata Sons' ownership in the entertainment content distribution platform to 70%. Tata Sons purchased the shares for approximately $100 million, valuing Tata Play at $1 billion. Walt Disney retains the remaining 30% stake.

"The proposed combination involves the acquisition of 10 per cent shareholding in Tata Play by Tata Sons," the Competition Commission of India (CCI) said in a release.

Tata Sons, an investment holding company, is registered with the Reserve Bank of India. The CCI's approval follows a similar decision last year, when it cleared Bharti Airtel’s acquisition of an additional 20% stake in Bharti Telemedia from Lion Meadow Investment.

Tata Play reported a consolidated net loss of Rs 354 crore in FY24, while Bharti Telemedia's net loss narrowed to Rs 76 crore. Tata Play's consolidated revenue was Rs 4,327 crore, and Bharti Telemedia's revenue grew to Rs 3,045 crore.