Disney is nearing a deal to sell its India operations, which it values at around $10 billion, to Reliance Industries, its biggest rival in the country, rather than sell the business in parts, Bloomberg News reported on Monday.
However, Disney may now sell a controlling stake in the business to Reliance, the Mukesh Ambani-controlled conglomerate whose streaming platform's success has weighed on the U.S. company's Indian business, Bloomberg reported. The enterprise value of the India business, Disney's biggest last year globally by users, was seen at around $15 billion to 16 billion when Disney took over Fox's business.
Source: News Formal (newsformal.com)
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