New Delhi: According to persons who know the situation, Tata Group is considering making Temasek Holdings Pte offer to acquire back a stake in its entertainment content distribution network as the Indian conglomerate considers delaying Tata Play Ltd’s initial public offering. Due to the state of the market, the people added that Tata Group is debating whether to postpone the scheduled Tata Play IPO. Instead, according to the sources, Temasek and Tata Group are discussing a deal that would allow the Singaporean state investor to finally sell its share in the platform known initially as Tata Sky.
According to one of the sources who asked to remain anonymous because the information is private, Temasek owns around 20% of the content distribution platform. According to the conglomerate’s website, Tata play offers paid television via set-top boxes and over-the-top video streaming via its app. It is a joint venture between Tata Group and Twenty-First Century Fox Inc. of Walt Disney Co.
