Disney nears multibillion-dollar deal with Mukesh Ambani’s Reliance: Report
Reliance Industries Ltd., controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney Co.’s India operations, according to people familiar with the matter.The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, the people said, asking not to be named because the discussions are private. Reliance views the assets at between $7 billion to $8 billion, some of the people said.The acquisition could be announced as early as next month with some of Reliance’s media units merged into Disney Star, the people said, without providing further details.Under the proposal, Disney will likely continue to hold on to a minority stake in the Ind...