Tata Sons seeks CCI clearance to acquire additional 10% stake in Tata Play

Tata Sons, promoter of Tata Group, has sought support from just commercialized regulator CCI for acquiring an further 10 per cent involvement successful DTH relation Tata Play from Singapore's sovereign wealthiness money Temasek Holdings.

Currently, Tata Sons owns a 60 per cent involvement successful Tata Play. After the completion of the deal, Tata Sons volition person a 70 per cent holding successful the amusement contented organisation platform.

Tata Sons Pvt Ltd is an concern holding company, which is registered arsenic a halfway concern institution with the Reserve Bank of India and classified arsenic a "Systemically Important Non-Deposit Taking Core Investment Company".

"The projected transaction relates to Tata Sons' acquisition of 10 per cent shareholding successful Tata Play from Baytree Investments (Mauritius) Pte Ltd," said a announcement filed with the Competition Commission of India (CCI) connected Thursday.

Baytree Investments (Mauritius) is an affiliate of Singapore's sovereign wealthiness money Temasek Holdings.

The projected transaction is being notified to the Commission nether Section 6(2) and Section 5(a) of the Competition Act, 2002, Tata Sons said.

Section 6(2) of the Competition Act pertains to immoderate idiosyncratic oregon endeavor to notify the CCI earlier entering into a combination, portion Section 5(a) defines a operation arsenic the acquisition of 1 oregon much enterprises, oregon the merger oregon amalgamation of enterprises that transcend a definite threshold.

Tata Play, (formerly Tata Sky), is 1 of India's starring contented organisation platforms providing Pay TV and Over-the-top (OTT) services done Tata Play Binge, an OTT platform.

In its submission to the CCI for the appraisal of the projected transaction, the parties (Tata Sons and Tata Play) asserted that the transaction volition not adversely impact contention successful immoderate plausible applicable markets.

Accordingly, the explanation of the applicable marketplace whitethorn stay open, the CCI whitethorn measure the transaction successful the discourse of wired broadband net services successful India and the complementary nexus betwixt net entree provided by Tata Sons done its affiliates and web-based services similar Tata Play Binge, it added.