Reliance Industries Limited and Walt Disney World have signed a binding agreement for the merger

New Delhi. Asia’s richest man, the Indian billionaire businessman Mukesh Ambani, has long been rumored to be the “King” in the entertainment industry. Ambani’s company Reliance Industries and American multinational entertainment company Walt Disney have signed a merger agreement. Ambani’s Reliance Industries Limited and The Walt Disney Company have reportedly signed a binding agreement to merge their media operations in India.

According to the news published in the English newspaper Bloomberg, people familiar with this matter said in the news. According to the agreement, Reliance and its affiliates will get at least 61 percent shares in the company after the merger. It is said that the remaining shares will be with Walt Disney. The official announcement of this agreement is yet to be made. So far no official announcement has been made by both the companies. If this deal is successful, the resulting company will be India’s largest media company.
According to the agreement, Reliance will invest 1 billion 500 million dollars for a 61 percent stake. Earlier, the Wall Street Journal also reported that Walt Disney had agreed to sell its Indian business to Viacom. It is estimated that the Reliance Walt Disney deal could be announced this week. There were also reports that Reliance was in talks for ownership of Tata Play as well. If this news proves to be true, it will be the first time that Tata and Ambani have collaborated in a venture. Agency