March 17 (Reuters) - Tata Sons' acquisition of an
additional 10% stake in Tata Play from an affiliate of
Singaporean sovereign wealth fund Temasek Holdings has received
regulatory clearance, the Competition Commission of India (CCI)
said on Monday.
The deal to buy Baytree Investments (Mauritius) Pte's
holding in the direct-to-home (DTH) and digital content
distribution platform will raise Tata Sons' stake to 70%. Walt
Disney ( DIS ) owns the remaining 30% of the joint venture.
Tata Play and Airtel Digital TV are close to merging their
satellite TV businesses, creating a $1.6 billion entity, as they
seek to navigate the ongoing shift of subscribers to digital
streaming, as per media report.
Tata Play and Airtel Digital TV accounted for more than 35
million paid subscribers as of September last year, representing
more than half of India's 60 million DTH subscriber base,
according to a government report.
(Reporting by Ashna Teresa Britto; Editing by Anil D'Silva)