Mukesh Ambani, ranked the richest person in the entirety of Asia, who has a net worth of $91.4 billion, is in talks with the Walt Disney Company to buy their Indian assets. It has been stated that after the deal has been confirmed, Ambani’s Reliance Industries will be expected to hold stronger control of the Disney Star assets, which are estimated at $10 billion, while the US giant Disney will hold a minority stake in the company.
Bloomberg has reported that individuals who wished to be unnamed have shared that while Disney estimates the assets at $10 billion, Ambani’s Reliance values those assets at $7 billion to $8 billion. Both representatives from Disney and Ambani have not shared any further details on the possible deal and have not been responsive to inquiries. Sources state that the deal between the two media conglomerates is to be finalised by next month.
Mukesh Ambani has several businesses across the globe and holds an immense amount of capital in India. He is currently the Chairman and Managing Director of Reliance Industries Limited, which owns several businesses in the fields of mass media, energy, retail, textiles, natural gas, and telecommunications. Ambani’s company is the largest private tax payer in the whole of India and has major political support from Narendra Modi’s BJP, which is the current ruling party of the nation.
According to another Bloomberg report, Disney is also looking to sell its Indian operations to other Indian businessmen, like Sun Group’s Founder and Chairperson, Kalanithi Maran, as well as Gautam Adani, who is a billionaire industrialist involved in port development and other ventures in India. These discussions are still in the beginning stages for any further details to be shared. Some have expressed how this deal is a strategy for Disney to further root itself with the 1.4 billion people that live in India, all of whom are potential audiences for the US media giant. Some have also weighed in that establishing such business relations with an internationally powerful brand such as Disney is a way in which Indian businesses can also develop their global potential and international reach.
Source: Livemint
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