(Reuters) – Tata Sons’ acquisition of an additional 10% stake in Tata Play from an affiliate of Singaporean sovereign wealth fund Temasek Holdings has received regulatory clearance, the Competition Commission of India (CCI) said on Monday.
The deal to buy Baytree Investments (Mauritius) Pte’s holding in the direct-to-home (DTH) and digital content distribution platform will raise Tata Sons’ stake to 70%. Walt Disney owns the remaining 30% of the joint venture.
Tata Play and Airtel Digital TV are close to merging their satellite TV businesses, creating a $1.6 billion entity, as they seek to navigate the ongoing shift of subscribers to digital streaming, as per media report.
Tata Play and Airtel Digital TV accounted for more than 35 million paid subscribers as of September last year, representing more than half of India’s 60 million DTH subscriber base, according to a government report.
(Reporting by Ashna Teresa Britto; Editing by Anil D’Silva)
Comments