Tata Sons acquires Temasek’s 10% stake in Tata Play for Rs 835 cr: Report
With Temasek's exit, Tata Sons now holds a 70% stake in the DTH firm along with Walt Disney which has 30%
Singaporean state-owned investment firm Temasek has reportedly sold its 10% stake in Tata Play to Tata Sons for Rs 835 crore. This has raised Tata Son’s shareholding in Tata Play to 70%, according to a news report.
The DTH company has notified the Ministry of Information and Broadcasting about the development.
With Temasek selling its stake, Tata Play is now a 70:30 joint venture between Tata and Walt Disney.
The Singapore-based firm acquired its 10% stake in 2007 through its affiliate Baytree Investments Mauritius when Tata Play was Tata Sky.
The news report says that Disney is keen on selling its 30% stake in Tata Play since DTH is a non-core business for the media company. Talks regarding the matter is reportedly said to have transpired between Tata and Walt Disney.
Disney came upon the 30% stake in Tata Play after acquiring 21st Century Fox’s India business, of which Star India was a big part.
