Tata Group in talks to buy 20% stake in Tata Play from Temasek at $1 billion valuation: Report

The deal could value the entertainment content distribution platform at more than $1 billion, the news agency report said, quoting people familiar with the matter.

While Tata Group and the Singaporean state investor are in the final stages of discussions around the interest of about 20% in Tata Play Ltd, there is no certainty that both – Temasek and Tata Play – will proceed with a deal, the sources told Bloomberg.

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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 through its app, according to the conglomerate’s website. It has a pan-India footprint of 23 million connections.

In July, Bloomberg had reported that Tata Group was considering making an offer to buy back Temasek’s stake of about 20% in Tata Play. 

Tata Group had received regulatory approvals to proceed with an initial public offering (IPO) for Tata Play, but was weighing delaying it, people familiar with the matter told Bloomberg at the time.

(With inputs from Bloomberg)

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Updated: 05 Oct 2023, 02:08 PM IST