Tata Group is in advanced talks with Temasek Holdings Pte to repurchase a stake in its content distribution platform, Tata Play Ltd, valued at over $1 billion. The discussions involve Temasek’s interest in approximately 20% of Tata Play. However, it’s important to note that the outcome of these talks is uncertain, as per insider sources. Neither Tata Group nor Temasek has provided official comments on the matter.
Tata Group had previously considered buying back Temasek’s 20% stake in Tata Play, even though they had regulatory approval for an initial public offering (IPO) for Tata Play. Tata Play, a joint venture between Tata Group and Walt Disney Co.’s Twenty-First Century Fox Inc., offers pay television services through set-top boxes and OTT video streaming, with 23 million connections across India.
