Mukesh Ambani led RIL to ink deal with UTV - Walt Disney, India
The latest in the series of multiple deals being signed by Reliance Industries, Mukesh Ambani led conglomerate Reliance Industries Limited (RIL), is set to strike a new deal with Walt Disney – India in an effort to acquire content for its upcoming telecom operations. The deal will be sealed between Reliance Industries and UTV Software, a subsidiary of UTV in which Walt Disney holds 50.44 per cent stake.
Known to be a pioneer in India’s core industry sectors – including energy, refining, and synthetic fibers – Reliance Industries has switched gears to expand its scope and scale to commercial and wide-spaced services, such as retail, financial services and more significantly telecom and broadband services. After successfully acquiring Infotel Broadband services, the only firm to secure nationwide wireless broadband radio airwaves (in 22 circles) in an auction conducted for Broadband Wireless Access (BWA) Spectrum conducted by the DoT, RIL plans to roll out top-of-the-line telecom services in India. It plans to build a data-focused business which will provide mobile, smartphone, tablet and computer users access to the internet related services via a wireless broadband network. Through this latest deal, Mukesh Ambani led RIL stands to gain access to games, entertainment and children's content for their budding telecom operations, especially for its 4G platform. The deal with UTV, soon to be acquired fully by Walt Disney, will help RIL propel its plans of rolling out data-focused business sooner than anticipated.
Reliance, in a season of new acquisitions and deals, has laid out plans to incorporate one more partner in its endeavor to establish holistic partnerships with leading business players. After a successful innings, which saw Reliance ink deals with global majors – including London based energy giant BP PLc, followed by an equally prolific deal with hedge fund institution DE Shaw, and acquisition of assets in shale gas sector, mineral sector and others, RIL will be seen broadening the scope of its gradually developing telecom unit.
Tags: Mukesh Ambani , Reliance , Reliance Industries , RIL
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