Tata Group is in superior talks with Temasek Holdings to purchase again a stake in its leisure content material distribution platform at a valuation of greater than US$1 billion (S$1.37 billion), in line with folks conversant in the matter.

The Indian conglomerate and the Singaporean state investor are within the remaining levels of discussions across the curiosity of about 20 per cent in Tata Play, the folks mentioned, asking to not be recognized as the knowledge shouldn’t be public. Tata Group may probably cement its grip on the platform, previously often called Tata Sky, because it’s contemplating shopping for a stake held by its flagship personal fairness fund Tata Opportunities Fund, the folks mentioned.

Discussions are ongoing and there’s no certainty that Temasek and Tata Play will proceed with a deal, the folks mentioned. A Tata Group consultant didn’t provide any rapid remark, whereas a Temasek spokesperson declined to remark.

Tata Group was contemplating making a suggestion to purchase again Temasek’s stake of about 20 per cent of the content material distribution platform, Bloomberg News reported in July. The conglomerate was weighing delaying a possible preliminary public providing for Tata Play, regardless of receiving the inexperienced mild from regulators to proceed, folks conversant in the matter mentioned on the time.

A three way partnership between Tata Group and Walt Disney’s Twenty-First Century Fox, Tata Play gives pay tv through set-top packing containers and over-the-top video streaming via its app, in line with the conglomerate’s web site. It has a pan-India footprint of 23 million connections. BLOOMBERG