Temasek plan to sell stake in Tata Play delayed over firm’s valuation
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Singapore state investor Temasek’s plan to sell its 10 per cent stake in Tata Play to its joint venture partner Tata Sons is delayed due to a valuation mismatch for the Indian satellite TV broadcaster, said banking sources.
Tata Sons is offering a lower valuation than $1 billion made for Tata Play, said the sources. Tata Sons has delayed listing the company after filing a confidential prospectus with the Securities and Exchange Board of India.
A Temasek spokesperson declined to comment. A Singapore-based source said the fund owned 10 per cent stake in Tata Play and not 20 per cent as reported earlier in a section of the media.
First Published: Nov 28 2023 | 1:21 PM IST