India’s Adani Group is plotting a move into e-commerce and digital payments, according to a Financial Times report, as the conglomerate seeks to diversify its portfolio and compete with Mukesh Ambani’s Reliance, Amazon, and Walmart’s Flipkart and PhonePe. The energy-to-infrastructure giant Adani Group is considering applying for a license to operate on India’s Unified Payments […]
Jio Financial unit to buy $4.32B of telecom gear from Reliance Retail
Jio Leasing Services Ltd (JLSL), a subsidiary of Jio Financial Services, plans to buy customer premises equipment, devices and telecom equipment worth $ 4.32 billion from Reliance Retail over the next two financial years, according to a postal ballot notice (PDF) sent to shareholders seeking approval of the deal. JLSL is entering the business of […]
Paramount Global to sell stake in India’s Viacom18 to Reliance for over $500M
Paramount Global has reached a binding agreement to sell its 13% stake in Reliance-controlled Indian media firm Viacom18 to Reliance for $ 517 million, both companies said Wednesday. The deal will increase Reliance’s stake in Viacom18, which operates dozens of TV channels as well as streaming service JioCinema, to 70.49%, Reliance said in a disclosure […]
Ambani’s Reliance and Disney merge India media assets to form $8.5B joint venture
Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the world’s most populous nation. Reliance, which will control the joint venture, directly owns 16.34% of the merged entity, which it has valued at $ 8.5 billion. Disney will own a 36.84% stake in the merged […]