Discussions are ongoing and there’s no certainty that Temasek and Tata Play will proceed with a deal, the people said. A Tata Group representative didn’t offer any immediate comment, while a Temasek spokesperson declined to comment.
Tata Group is in advanced talks with Temasek Holdings Pte to buy back a stake in its entertainment content distribution platform at a valuation of more than US$1 billion ($1.37 billion), according to people familiar with the matter.
The Indian conglomerate and the Singaporean state investor are in the final stages of discussions around the interest of about 20% in Tata Play Ltd., the people said, asking not to be identified as the information isn’t public. Tata Group could potentially cement its grip on the platform, formerly known as Tata Sky, as it’s considering buying a stake held by its flagship private equity fund Tata Opportunities Fund, the people said.
