Tata Sons increases stake in Tata Play to 70% as Temasek exits [Video]

Delhi: Tata Sons, the principal holding company of the Tata Group in India, has recently upped its stake in Tata Play, a leading satellite TV provider, to 70%. This increase came about through the purchase of a 10% stake from Temasek, the Singapore state investment firm, for approximately $100 million, as reported by various media outlets.

This strategic move was promptly reported to the Ministry of Information and Broadcasting, adhering to the necessary regulations that govern direct-to-home (DTH) service companies. 

According to news reports, following the transaction, Temasek has fully exited its position in Tata Play, which now operates as a 70:30 joint venture between Tata Sons and Walt Disney. Disney acquired its share through its earlier purchase of 21st Century Fox’s assets in India, which included Star India.

Despite a significant drop in valuation from its pre-pandemic target of $3 billion to the current $1 billion, Tata Play continues …