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 was considering making an offer to buy back Temasek’s stake of about 20% of the content distribution platform, Bloomberg News reported in July. The conglomerate was weighing delaying a potential initial public offering for Tata Play, despite receiving the green light from regulators to proceed, people familiar with the matter said at the time.
A joint venture between Tata Group and Walt Disney Co.’s Twenty-First Century Fox Inc., Tata Play 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.
