Walt Disney will sell its 29.8% stake in Tata Play to Reliance: If the deal is successful, this will be the first collaboration between Ambani and Tata.

Reliance Industries Limited (RIL) is going to buy 29.8% stake in Tata Group’s TV and video streaming service provider ‘Tata Play’. Reliance will buy this stake from Walt Disney. Business Standard has given this information quoting sources.

According to the report, the deal is still in the discussion phase. If this deal becomes successful, this will be the first collaboration between Ambani and Tata Group. Tata Sons holds 50.2% stake and Disney holds 29.8% stake in Tata Play. The remaining shares are held by Singapore’s Temasek.

Reliance will provide Jio Cinema content to Tata Play consumers

With this deal, Jio Cinema will get access to the platform of Tata Play. According to the report, Reliance will offer all the content of its Jio Cinema to the consumers of Tata Play.

Disney was going to offer shares in IPO

Earlier, Disney was going to offer its stake in the company’s Initial Public Offering (IPO), but the company has taken this decision due to the postponement of the listing of Tata Play.

Temasek also wanted to sell its 20% stake

A year ago, Temasek, the third stakeholder of Tata Play, had also talked to Tata Group to sell its 20% stake in the company. The value of this deal was 1 billion dollars (about Rs 8,301 crore). Later this agreement could not proceed further.