According to Bloomberg News, Tata Group is in advanced negotiations with Temasek Holdings Pte to purchase back around 20% of Tata Play.
The Tata Group is a Mumbai-based Indian multinational company. Jamsetji Tata created it in 1868. The Tata Group is one of the world’s biggest companies, having activities in over 100 countries across five continents.
The Tata Group is a privately held company with almost 100 subsidiaries. Chemicals, consumer items, energy, engineering, information systems, materials, and services are among the key business areas covered.
The Tata Group’s goods and services are available in more than 150 countries. Among its subsidiaries are:
- Tata Motors Ltd.
- TCS stands for Tata Consultancy Services.
- Reliance Industries Limited is an Indian conglomerate.
- Tata Steel Limited
- Tata Consultancy Services
The Tata Trusts, which support education, health, cultural, and livelihood projects in India, are also part of the Tata Group. The Trusts are committed to delivering high-quality education to children, particularly those from disadvantaged circumstances.
According to sources familiar with the subject, the acquisition might be worth more than $1 billion for the entertainment content distribution company.
While Tata Group and the Singaporean state investor are in the last stages of talks over a 20% stake in Tata Play Ltd, there is no guarantee that both – Temasek and Tata Play – would continue with a transaction, according to Bloomberg.
According to the conglomerate’s website, Tata Play is a joint venture between Tata Group and Walt Disney Co.’s Twenty-First Century Fox Inc. that delivers pay television through set-top boxes and over-the-top video streaming via its app. It has 23 million connections across India.
Bloomberg reported in July that Tata Group was contemplating attempting to purchase back Temasek’s approximately 20% share in Tata Play.
Tata Group had acquired regulatory clearance to continue with an IPO for Tata Play but was considering postponing it, according to individuals familiar with the subject at the time.