European Commission approves RIL-Disney merger deal
The Commission reportedly concluded, stating that the transaction does not cause competitive concerns in the region due to the JV's 'negligible activities' within the European Economic Area
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Published: Nov 2, 2024 8:58 AM | 1 min read
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The European Commission has reportedly approved the joint venture Star India between Reliance Industries Limited (RIL), The Walt Disney Company (TWDC) and BTS Investment 1, controlled by James Murdoch and top media executive Uday Shankar.
A news report said that the Commission has come to the conclusion that the transaction does not cause “competitive concerns” due to the JV’s “negligible activities” within the European Economic Area and the limited market share held by the companies concerned.
The merger between RIL’s Viacom18 and Disney’s Star India is expected to complete in early November.
Once complete, the merged company will be a $8.5 billion conglomerate with 56% stake controlled by RIL and 37% by Walt Disney. Bodhi Tree Systems will hold a 7% stake. Nita Ambani will be chairperson and Shankar the vice chairperson.
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