“The proposed transaction relates to Tata Sons’ acquisition of 10 per cent shareholding in Tata Play from Baytree Investments (Mauritius) Pte Ltd,” said a notice filed with the Competition Commission of India (CCI) on Thursday.
Baytree Investments (Mauritius) is an affiliate of Singapore’s sovereign wealth fund Temasek Holdings.
The proposed transaction is being notified to the Commission under Section 6(2) and Section 5(a) of the Competition Act, 2002, Tata Sons said.
Section 6(2) of the Competition Act pertains to any person or enterprise to notify the CCI before entering into a combination, while Section 5(a) defines a combination as the acquisition of one or more enterprises, or the merger or amalgamation of enterprises that exceed a certain threshold. Tata Play, (formerly Tata Sky), is one of India’s leading content distribution platforms providing Pay TV and Over-the-top (OTT) services through Tata Play Binge, an OTT platform. In its submission to the CCI for the assessment of the proposed transaction, the parties (Tata Sons and Tata Play) asserted that the transaction will not adversely affect competition in any plausible relevant markets.
Accordingly, the definition of the relevant market may remain open, the CCI may assess the transaction in the context of wired broadband internet services in India and the complementary link between internet access provided by Tata Sons through its affiliates and web-based services like Tata Play Binge, it added.
