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Tata Sons' move to boost stake in Tata Play gets Indian regulatory clearance
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.
FILE PHOTO: A Tata sign is seen outside their offices in London, Britain March 30, 2016. / REUTERS/Toby Melville
Tata Sons' acquisition of an additional 10 percent 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 March 17.
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 percent. Walt Disney owns the remaining 30 percent 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.
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