Tata in advanced negotiations for Temasek’s Tata Play stake

6 Oct 2023 , 09:30 AM

According to people familiar with the matter, Tata Group is in advanced talks with Temasek Holdings Pte to purchase back a stake in its entertainment content distribution platform for more than $1 billion.

The Indian giant and the Singaporean state investor are in the last stages of talks over a 20% stake in Tata Play Ltd., stated some of the sources.

According to the sources, Tata Group is considering purchasing a stake in the platform, formerly known as Tata Sky, via its flagship private equity firm, Tata Opportunities firm.

According to the persons, discussions are underway and there is no guarantee that Temasek and Tata Play will proceed with a deal.

Reports stated in July that Tata Group was considering making an attempt to buy back Temasek’s 20% share in the content distribution network. Despite gaining approval from regulators to proceed, the conglomerate was considering delaying a potential initial public offering for Tata Play, according to people familiar with the matter at the time.

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 provides pay television via set-top boxes and over-the-top video streaming via its app. It has 23 million connections throughout India.

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