CCI Consents To Tata Sons Acquiring Added Stake In Tata Play From Temasek Holdings
CCI Consents To Tata Sons Acquiring Added Stake In Tata Play From Temasek Holdings
The deal results in the company raising its equity to 70 percent
The Competition Commission of India (CCI) has approved Tata Sons' acquisition of an additional 10 percent stake in Tata Play from Singaporean sovereign wealth fund, Temasek Holdings.
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, with Walt Disney holding 30 percent.
Tata Play and Airtel Digital TV are set to merge, to form a $1.6 billion satellite TV entity. They are aiming to navigate the ongoing shift of subscribers to digital streaming.
Tata Play and Airtel Digital TV had over 35 million paid subscribers as of September last. They represented more than half of India's 60 million DTH subscriber base.
