Reliance set to strike deal with UTV

Mukesh Ambani, India’s wealthiest man, is set to sign a deal with Walt Disney’s Indian subsidiary that will provide his Reliance Industries with the content for its next generation of mobile telecoms.

The deal, expected to be sealed in the coming weeks, is between Reliance and UTV, one of Bollywood’s largest entertainment groups, which Disney controls with a 50.44 per cent stake and is in the process of buying fully.

It is the first concrete move by the billionaire’s group since it acquired Infotel, the only company to have won a national allocation of 4G spectrum in an auction. It will be the latest in a series of joint ventures signed by India’s largest private sector group.

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