Reliance-Disney merger talks in final stage ahead of Feb 17 deadline: Report

Mukesh Ambani-led Reliance Industries Limited is inching closer to acquiring Walt Disney Co, as the two sides are in the final stage of negotiations to finalise their mega stock-and-cash merger to create what will be India's largest business and entertainment entity, The Economic Times has reported. As per the report, February 17 is the exclusivity period deadline to conclude the bilateral negotiations, and RIL plans to inject up to $1.5 billion cash in the proposed venture. Reliance to own 60% RIL, whose chairperson, Ambani, has the highest net worth in Asia, and eleventh-highest globally, will have 60% ownership of the combined entity, while the sum 40% will lie with Walt Disney Co. Of Reliance's 60% shares, Viacom18 alone will get 42-45%, making the latter the single-largest shareholder in the new entity. As a stakeholder in Viacom18, Bodhi Tree Systems, an investment fund, will hold shares in the Reliance-Disney entity as well, albeit indirectly.