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Mukesh Ambani’s RIL and Disney sign ‘non-binding pact’ for mega media merger: Report
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financialexpress.comMukesh Ambani-led Reliance Industries and Walt Disney have signed a non-binding pact that will pave way for merger of their Indian media businesses, latest media reports say. A Reuters report quoting ET said that mega merger is believed to be completed by February 2024.
The report also said that the merger would give more control to RIL because under the yet-to-be-formally announced deal, while Ambani’s company, which is India’s most valuable corporate entity will hold 51 per cent shares, the rest of the 49 per cent shares will be owned by Disney. The merger would be via combination of both cash and stocks.
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