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India clears Tata Sons’ additional stake buy in Tata Play
The Competition Commission of India (CCI) has approved Tata Sons’ acquisition of an additional 10% stake in Tata Play from Baytree Investments (Mauritius) Pte Ltd, an affiliate of Temasek Holdings.
This follows Tata Sons’ earlier purchase of a 10% stake for 835 crore rupee (US$96.41 million) in April 2024, raising its total ownership to 70%. The remaining 30% is owned by Walt Disney.
Tata Play, formerly known as Tata Sky, offers direct-to-home and OTT services.
The approval comes amid intense competition in India’s OTT market, led by Reliance’s JioHotstar.
Reliance plans to invest 11,500 crore rupee (US$1.33 billion) to strengthen its position.
Recent Tata Group developments
| Timeline |
|---|
| 18-Nov-2024 📱 Tata Group to acquire stake in Pegatron’s iPhone plant Tata Group to acquire 60% stake in Pegatron’s iPhone plant in India, as Pegatron downsizes amid geopolitical tensions. |
| 08-Dec-2023 📱 Tata Group to build iPhone plant in India, creating 50,000 jobs Tata Group plans a major iPhone assembly plant in Tamil Nadu, potentially creating 50,000 jobs in two years. |
| 21-Jun-2021 📈 Ex-Tata Group CTO joins $1.2m seed round of Indian investment management firm Upside AI raises $1.2M to enhance its AI-driven investment solutions, aiming for $135M in assets under management. |
| 27-May-2021 🏥 Sources: Tata Group looks to acquire ex-Flipkart execs’ fitness startup Tata Group aims to acquire health startup Curefit, potentially bringing founder Mukesh Bansal into its digital leadership. |
| 17-Feb-2021 📦 Sources: Tata Group strikes a deal to acquire majority stake in BigBasket Tata Group acquires a majority stake in BigBasket, boosting its valuation to up to $2 billion amid Alibaba’s exit. |
| 29-Oct-2020 🛒 Tata Group may buy a 50% stake in e-grocer BigBasket for $1b, sources say BigBasket is in talks to sell a majority stake to Tata Group for $1 billion, with Alibaba expected to divest its stake too. |
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