Business

Reliance Jio likely to buy stake in Subhash Chandra's Zee Entertainment, says report

Updated : January 28, 2019 08:21 AM IST

Global tech majors such as Amazon, Apple, Tencent and Alibaba have also shown interest in the Essel-run media company, the paper said, adding that AT&T, Singtel, Comcast and Sony Pictures are some of the other names doing the rounds.

Last year, the promoters of Zee Entertainment said they wanted to divest up to 50 percent of their stake to the 'right global strategic partner'.

Reliance Jio likely to buy stake in Subhash Chandra's Zee Entertainment, says report

Mukesh Ambani-led Reliance Jio is likely to enter the race to buy half of promoter Subhash Chandra's stake in Zee Entertainment Enterprises, Business Standard reported citing unidentified sources.

Last year, the promoters of Zee Entertainment said they wanted to divest up to 50 percent of their stake to the 'right global strategic partner'.

In an analyst call quoted, as per the news paper, CEO Punit Goenka said the company was talking to many potential investors and the deal can be 'announced in the next few weeks'.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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