Mumbai: According to sources, Mukesh Ambani-led Reliance Jio is looking to buy a significant portion of promoter Subhash Chandra’s stake in Zee Entertainment Enterprises (ZEEL).
Jio has now pitted itself against international names such as Amazon, Apple, Tencent, and Alibaba, who are interested as well.
Global tech majors such as Amazon, Apple, Tencent and Alibaba have also shown aggressive interest in the Essel-run media company. AT&T, Singtel, Comcast and Sony Pictures are some of the other names doing the rounds. In 2018, the promoters of Zee Entertainment announced that they wanted to divest up to 50 per cent of their stake to the ‘right global strategic partner’.
According to reports, CEO Punit Goenka said the company was talking to many potential investors and the deal can be ‘announced in the next few weeks’.