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Tata Opportunities Fund to buy 5% stake in Tata Sky

MUMBAI: Tata Opportunities Fund (TOF) LP – a captive PE fund of the $100 billion salt-to-software conglomerate — is all set to buy a 5% stake in Tata Group’s joint venture DTH company Tata Sky. TOF, which has a corpus of $600 million raised last month, will pay Rs 275 crore ($50 million) for a 5% stake, valuing the loss making JV at $1 billion.

This transaction is also expected to set a benchmark valuation, say industry experts as the company is likely to list next year. Tata Sky, set up seven years ago, competes in the fast growing direct-to-home TV-service market with Dish TV (part of the Zee Group) Bharti Airtel, Reliance Communications, Sun Group and Videocon.

http://timesofindia.indiatimes.com/business/india-business/Tata-Opportunities-Fund-to-buy-5-stake-in-Tata-Sky/articleshow/20080462.cms




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  1. [quote=’Viki’ pid=’16761′ dateline=’1368689693′]
    MUMBAI: Tata Opportunities Fund (TOF) LP – a captive PE fund of the $100 billion salt-to-software conglomerate — is all set to buy a 5% stake in Tata Group’s joint venture DTH company Tata Sky. TOF, which has a corpus of $600 million raised last month, will pay Rs 275 crore ($50 million) for a 5% stake, valuing the loss making JV at $1 billion.

    This transaction is also expected to set a benchmark valuation, say industry experts as the company is likely to list next year. Tata Sky, set up seven years ago, competes in the fast growing direct-to-home TV-service market with Dish TV (part of the Zee Group) Bharti Airtel, Reliance Communications, Sun Group and Videocon.

    http://timesofindia.indiatimes.com/business/india-business/Tata-Opportunities-Fund-to-buy-5-stake-in-Tata-Sky/articleshow/20080462.cms
    [/quote]

    The most happiest people reading this will be Reliance and Sun people , as in this they mentioned they are in competition with tatasky 😀 :lol::lol:

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