Reliance to sign deal with UTV software: reports
10 Oct 2011
According to the london-based Financial Times, Reliance Industries (RIL), is all set to sign a deal with Walt Disney's India unit, for acquisition of content for its telecom operations.
The deal with UTV Software, in which Disney holds a 50.44-per cent stake, is expected to to be completed in the coming weeks, the newspaper said late yesterday, citing people close to the development.
UTV Software had no immediate comment on the report.
Reliance, which has diversified across telecom, retail, financial services and hospitality sectors in recent years beyond its core business of refining and oil and gas exploration, acquired Infotel last year, which emerged as the only firm to secure nationwide wireless broadband radio airwaves in an auction.
The deal would give Reliance access to games, entertainment and children's content for their telecom operations, according to the paper.
Reliance plans to build a data-focused business which would provide mobile, smartphone, tablet and computer users access to the net and online related services via a wireless broadband network.
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