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☆ Zuckerberg, Rihanna and Bill Gates were among guests at lavish bash for son of Asia's richest man
▼ + stars: | 2024-03-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Anant Ambani, left, son of Chairman of Reliance Industries Limited Mukesh Ambani and his fiancee Radhika Merchant greet media persons during their engagement ceremony in Mumbai, India, Thursday, Jan. 19, 2023. Tech executives including Mark Zuckerberg and Bill Gates attended a lavish, three day, pre-wedding celebration for the son of Indian billionaire Mukesh Ambani, Asia's richest man, over the weekend. The bash was held to celebrate the upcoming marriage of Anant Ambani, the youngest of Mukesh Ambani's sons, to Radhika Merchant, scheduled for later this year. Mukesh Ambani is the world's ninth-richest person with a net worth of $117.8 billion, according to Forbes. He is the chairman of Reliance Industries , a conglomerate that spans everything from oil and gas to telecommunications.

Persons: Anant Ambani, Mukesh Ambani, Radhika Merchant, Mark Zuckerberg, Bill Gates, Mukesh Ambani's Organizations: Reliance Industries, Tech, Forbes Locations: Mumbai, India

☆ After all that, the Ambani heir isn't even married yet
▼ + stars: | 2024-03-04 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

Asia's richest family, the Ambanis, threw a lavish three-day pre-wedding party for Anant Ambani. Bill Gates and Mark Zuckerberg attended the bash, which featured a private Rihanna concert. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA star-studded guest list, designer gowns galore, and a private Rihanna concert — and that was just for the Ambani pre-wedding bash.

Persons: Anant Ambani, Bill Gates, Mark Zuckerberg, —, Ambani, Radhika Merchant, Viren Merchant, Donald Trump's, Ivanka Trump, Rihanna, Mukesh Ambani's, Isha Ambani, Anand Piramal, Shah Rukh Khan, Priyanka Chopra, Nick Jonas, Hillary Clinton Organizations: Service, Encore Healthcare, Viren, Guardian, Beyoncé Locations: Indian, Gujarat, Jamnagar, Mumbai

☆ Why Zuck, Ivanka Trump and the world's rich and famous are flocking to a lavish party in India
▼ + stars: | 2024-03-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Mark Zuckerberg, Bill Gates and other CEOs and celebs are at a wedding pre-party in India this weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The centibillionaire's grip on domestic commerce makes him a powerful partner for Western companies trying to break into the Indian market. Vital growth frontierUS executives are eager to cozy up to Ambani and Reliance because they see dollar signs when they look at India.

Persons: Mark Zuckerberg, Bill Gates, Mukesh, —, Sundar Pichai, Ivanka Trump, Mukesh Ambani's, Ambani, Larry Page, Sergey Brin, Anant, Radhika Merchant, Mukesh Ambani, Nita, Prodip Guha, Tim Cook, Cook, Apple's, Ted Sarandos, Meta Organizations: Apple, Microsoft, Netflix, Service, Reliance Industries, Bloomberg, Qualcomm, Intel, Hindustan Times, Amazon, Indian Locations: India, China, New Delhi

☆ The youngest son of Asia's richest man is getting married, and the pre-wedding event features Rihanna, a 9-page dress code, and live animals
▼ + stars: | 2024-03-01 | by ( Amanda Goh | ) www.businessinsider.com time to read: +1 min

Rihanna is expected to perform at the pre-wedding bash. Rihanna is expected to perform during the pre-wedding bash. one comment under the post read, to which Rihanna herself responded, "the stage couldn't fit in my carryon." Isha is Mukesh Ambani's only daughter and Anant's older sister. In 2019, Coldplay front man Chris Martin and The Chainsmokers entertained guests attending Akash Ambani — Anant's older brother — and Shloka Mehta's pre-wedding bash in Switzerland.

Persons: Rihanna, Mike Lawrie, Beyoncé, Isha Ambani, Anand Piramal's, Isha, Mukesh Ambani's, Chris Martin, Akash Ambani, —, Shloka Mehta's, Adam Levine Organizations: Getty, Reuters, Coldplay Locations: Jamnagar, India, Switzerland

☆ Meet the Ambanis, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars
▼ + stars: | 2024-03-01 | by ( Katie Warren | Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Mukesh Ambani is worth $111 billion, according to the Bloomberg Billionaires Index. The Ambanis live in a 27-story skyscraper in Mumbai thought to have cost $1 billion to construct. The Ambanis made headlines in 2018 for throwing one of the most lavish wedding celebrations ever for Isha Ambani and Anand Piramal. This week the family is staging an extravagant 3-day pre-wedding celebration for Anant, Mukesh Ambani's youngest son. The Ambani family home in Mumbai is a 27-story skyscraper that cost an estimated $1 billion to build.

Persons: Mukesh Ambani, —, Anant, Isha Ambani, Anand Piramal, Priyanka Chopra, Nick Jonas, Hillary Clinton, Arianna Huffington, Mukesh Ambani's, Bill Gates, Mark Zuckerberg, Rihanna, Sundar Pichai, Jay Y, Lee, Ambani Organizations: Bloomberg, Reliance Industries, Service, Tech, Guardian, Reuters, Samsung Electronics, The Locations: Mumbai, India, Gujarat, The Times

☆ Mark Zuckerberg is the ultimate American tourist in Japan
▼ + stars: | 2024-02-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg is having some fun in Japan. The Meta chief is off on his Asia tour, and plans to hit South Korea and India next. AdvertisementMark Zuckerberg is on his Asia tour and exploring Japan. A spokesperson for Zuckerberg told Bloomberg that the billionaire was in Japan for a "personal trip" and will head to South Korea on Wednesday. Representatives for Zuckerberg did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: Mark Zuckerberg, Zuckerberg, —, Relatable Zuck, Quentin Tarantino's, Akihira, Instagram, Fumio Kishida, Musk, X, Mukesh Ambani's Organizations: McDonalds, Service, Meta, Japanese, Bloomberg, Business Insider Locations: Japan, Asia, Korea, India, Tokyo, Elon, Odaiba, South Korea

A man exercises in a gym near a barcode for Paytm, an Indian cellphone-based digital payment platform, in New Delhi on November 18, 2021. The Indian Finance Ministry, the RBI and Paytm did not immediately respond to CNBC's requests for comment. A Paytm spokesperson has denied any violation of foreign exchange laws, calling them "unfounded and factually incorrect," according to Reuters. The shares saw a massive three-day sell-off following the RBI's order last week which wiped out more than $2.5 billion in value, before a subsequent bounce. Earlier in the week, Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business.

Persons: Paytm, It's, Vijay Shekhar Sharma, Nirmala Sitharaman, Sharma, Mukesh Ambani's Organizations: Reserve Bank of, CNBC, Reuters, Indian Finance Ministry, One97 Communications, India's National Stock Exchange, Financial Services Locations: New Delhi, Reserve Bank of India

☆ India's Paytm shares pop 8% after Ambani's Jio Financial denies deal talks for wallet business
▼ + stars: | 2024-02-06 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A restaurant advertises the use of the Paytm digital payment system in Mumbai, India, on Saturday, July 17, 2021. It comes after Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business. Hindustan Times reported Monday that Jio Financial, owned by Ambani's conglomerate Reliance, would acquire Paytm's wallet business. The report sent shares of Jio Financial up as much as 16.5% on an intraday basis yesterday. Jio Financial issued a statement to the exchange late Monday to confirm it was not in talks to buy Paytm's digital wallet business.

Persons: Mukesh Ambani's, Paytm Organizations: Financial Services, Communications, India's National Stock Exchange, Reserve Bank of India, Paytm Payments Bank, Hindustan Times, Jio Locations: Mumbai, India

☆ Zee founder family to eventually lift stake to 26%, according to reports
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +1 min

Logos of Zee Entertainment Enterprises Ltd. displayed on computer screens arranged in Mumbai, India, on Tuesday, Jan. 9, 2024. Zee Entertainment founder Subhash Chandra's family will eventually lift their stake in the media house to 26% from 4% currently, Mint reported on Monday, days after a merger with Sony 's India unit collapsed. "I have advised my immediate and extended family to increase their shareholding in Zee... We eventually want to go back to 26%, but it will take time," Chandra told Mint, a business daily, in an interview. Chandra, who set up Zee in 1992 and is often dubbed the "Father of Indian Television", is now chairman emeritus at Zee. Chandra, who is Goenka's father, told Mint "Punit is the right person to run the company and there is no problem with Zee."

Persons: Subhash Chandra's, Zee, Chandra, Punit Goenka, Goenka, Mukesh Ambani's Organizations: Zee Entertainment Enterprises, Zee, Sony Group Corp, Zee Entertainment, Mint, Sony, Indian, Walt Disney, India Locations: Mumbai, India, Zee .

☆ Japan's Sony terminates $10 billion merger with India's Zee
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +2 min

Japan's Sony Group said on Monday it has sent a termination notice to Zee Entertainment to call off a $10 billion merger of their Indian operations, following an impasse over who will lead the combined entity. It cited unmet conditions of the merger agreement as the reason for the termination. Although Sony did not specify on Monday what conditions were unfulfilled, a stalemate over who will lead the combined company had put the merger in danger. Zee proposed CEO Punit Goenka, but Sony disagreed in light of a market regulator probe into Goenka. On Friday, Zee had said it was committed to the merger and was working to close the deal through "good faith negotiations".

Persons: Mukesh, Zee, Punit Goenka, Karan Taurani Organizations: Sony, Zee Entertainment, Reliance Industries, Goenka, Reuters, Disney, Elara Capital, Netflix, Disney's Star, Zee, Bloomberg Locations: Mumbai, Maharashtra

The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.

Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat

A billboard for the Netflix film "Thar" is seen on a street in Mumbai, India, May 19, 2022. India last month introduced the new draft law to regulate the broadcasting sector that will also apply to streaming giants. Netflix and Viacom18, as well as India's Information and Broadcasting Ministry, which has proposed the law, did not respond to a request for comment. India's government says the new law and formation of content committees will help in "robust self-regulation". Top Bollywood stars feature in Indian streaming shows, some of which have faced criticism from lawmakers and the public for scenes deemed vulgar or offensive.

Persons: Francis Mascarenhas, Mukesh Ambani's Viacom18, Aditya Kalra, Munsif Vengattil, Emelia Sithole Organizations: Netflix, REUTERS, DELHI, Broadcasting Ministry, Disney, Media Partners Asia, Thomson Locations: Mumbai, India

[1/2] JioCinema and Pokemon logos are pictured in this illustration taken November 15, 2023. Pokemon has spawned a global multi-billion dollar media franchise spanning trading cards, games, TV shows and movies. In total, JioCinema will add around 3,000 hours of children's content, including movies and shows from Entertainment One, Animaccord, Cartoon Network Studios and DreamWorks, the sources said. Some Pokemon content was earlier on Voot, but the new JioCinema deal is a "much larger partnership", one of the sources said. NBCUniversal told Reuters that "kids and family programming", including DreamWorks content, was part of a multi-year partnership with JioCinema announced in May.

Persons: Dado Ruvic, Mukesh Ambani, Mukesh Ambani's, Ambani, Viacom18, NBCUniversal, JioCinema, Aditya Kalra, Munsif, Miral Organizations: REUTERS, Disney, Netflix, Cartoon Network, DreamWorks, Pokemon Company, Walt Disney Co, Nintendo, Media Partners, Entertainment, Cartoon Network Studios, Reuters, Warner Bros Discovery Inc, Hollywood, Thomson Locations: DELHI, India, New Delhi, Bengaluru

Disney+ Hotstar logo is seen in this illustration taken August 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMUMBAI, Oct 11 (Reuters) - Private equity firm Blackstone (BX.N) has held preliminary discussions with Walt Disney (DIS.N) to acquire a stake in the Indian arm of the entertainment firm, two sources familiar with the matter told Reuters on Wednesday. Blackstone-backed U.S. media firm Candle Media, founded by former Disney executives, led conversations between the two parties last week, one of the sources said. Indian newspaper The Economic Times first reported the talks earlier on Wednesday. Disney has also held talks with Indian billionaires Gautam Adani and Sun TV Network (SUTV.NS) owner Kalanithi Maran, Bloomberg News reported last week.

Persons: Dado Ruvic, Walt Disney, Blackstone, Gautam Adani, Kalanithi Maran, Mukesh Ambani's, M Sriram, Aditya Kalra, Christian Schmollinger, Stephen Coates Organizations: Disney, REUTERS, Rights, Blackstone, Reuters, Candle Media, Economic Times, Sun TV Network, Bloomberg News, Indian Premier League, Thomson Locations: Rights MUMBAI, India, Mumbai, New Delhi

☆ Indian billionaire Ambani's Reliance Retail to raise $598 mln from ADIA
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Amit Dave/File Photo Acquire Licensing RightsBENGALURU, Oct 6 (Reuters) - Billionaire Mukesh Ambani's Reliance Retail Ventures said on Friday it would raise 49.67 billion rupees ($598 million) from the Abu Dhabi Investment Authority, in the latest bet on India's largest retailer ahead of a potential stock market listing. "Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an unprecedented pace," said Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA. The investment comes as Reliance set an internal target to raise $3.5 billion. ADIA and Singapore's GIC had invested $664 million each into the retail unit in 2020 as Reliance sold a 10.09% stake at a valuation of 4.68 trillion rupees. Morgan Stanley acted as financial adviser to Reliance Retail Ventures for the ADIA deal.

Persons: Amit Dave, Mukesh, Hamad Shahwan Aldhaheri, Singapore's GIC, Ambani, Morgan Stanley, Chris Thomas, Maju Samuel Organizations: Reliance Industries, REUTERS, Rights, Retail Ventures, Abu Dhabi Investment Authority, ADIA, Reliance, KKR, Qatar Investment Authority, Reuters, Saudi Arabia's Public Investment Fund, Reliance Retail Ventures, Thomson Locations: Ahmedabad, India, Abu Dhabi, ADIA, Singapore, Saudi Arabia, Bengaluru

Temasek said it does not comment on market speculation, while Mubadala declined to comment. The Singapore state investment firm's talks with Mubadala, which manages $276 billion globally, are at an early stage, said the first of the sources. And Mubadala is "bullish on India (and) wants to double down on investments," the source added. Temasek intends to retain its majority stake in Manipal by continuing to be the largest and majority shareholder with a stake of more than 50%, said the third source. India's private healthcare space, worth about $48 billion, is forecast by PwC to grow 12% to 14% a year.

Persons: サマリー, Mubadala, Temasek, Mukesh, Tata Power's, Khaled Abdulla Al Qubaisi, Sriram, Hadeel Al Sayegh, Aditya Kalra, Clarence Fernandez 私たち Organizations: Temasek, Manipal, fund's, Singapore's Temasek, Mubadala, Tata, Economic Times, Cleveland Clinic Locations: Manipal, Middle, MUMBAI, DUBAI, SINGAPORE, India's Manipal, Abu Dhabi, India, Temasek, Singapore, Bengaluru, Mubadala, Asia, U.S

A worker holds a Lava mobile handset at its manufacturing plant, in Noida, India, October 23, 2018. REUTERS/Anushree Fadnavis/File Photo Acquire Licensing RightsBENGALURU, Sept 22 (Reuters) - Homegrown Indian mobile phone firm Lava will launch 4G feature phones as it aims to corner a third of the market share for the entry-level devices within a year, while also gradually boosting its budget smartphones, a top executive said. Since it was set up in 2009, Lava has become popular for the budget phones, which have a keypad but no high-end features. Research firm Counterpoint estimates that Lava has a share of less than 1% in the world's second-biggest smartphone market, with 650 million such devices. Lava also plans to boost its smartphone offerings in the budget segment.

Persons: Anushree, Sunil Raina, Mukesh, Raina, Munsif, Aditya Kalra, Clarence Fernandez Organizations: REUTERS, Rights, International, Reuters, Samsung, HK, Thomson Locations: Noida, India, China, Bengaluru

The private equity firm's follow-on investment translates into an additional equity stake of 0.25% in Reliance Retail on a fully-diluted basis, taking KKR's total equity stake in the Indian company to 1.42%, the retailer said in a statement on Monday. That year, KKR had invested 55.5 billion rupees ($669.65 million) in Reliance Retail. Morgan Stanley acted as financial adviser to Reliance Retail. Ambani said in 2019 that the group planned to list the retail business in five years. Reliance Retail reported a consolidated net profit of 91.81 billion rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.

Persons: Maggi, Niharika Kulkarni, Mukesh Ambani's, Jimmy Choo, Spencer, Pret, Ambani, Morgan Stanley, Aditya Kalra, Toby Chopra, Tomasz Janowski, Deepa Babington Organizations: REUTERS, KKR, Co Inc, Retail Ventures, Reliance, Reliance Retail, Saudi Public Investment Fund, General Atlantic, United Arab, Asian, IV, Reuters, Qatar Investment Authority, Unilever, Thomson Locations: Mumbai, India, DELHI, United Arab Emirates

Reliance, whose interest in making semiconductors has not been previously reported, did not respond to repeated requests for comment. India's IT ministry and Prime Minister Narendra Modi's office also did not respond to requests for comment. The country does not as yet have any chip manufacturing plants, although India's Vedanta (VDAN.NS) and Taiwan's Foxconn (2317.TW) are both looking at building facilities. India's government has forecast the domestic chip market will be worth $80 billion by 2028 compared with $23 billion currently. But chip manufacturing is an industry that has historically been beset with boom and bust cycles and requires much expertise.

Persons: Amit Dave, Mukesh, Narendra Modi's, Modi, Vedanta, Taiwan's Foxconn, Arun Mampazhy, –, Foxconn, Munsif Vengattil, Aditya Kalra, Edwina Gibbs Organizations: Reliance Industries, Gujarat Global Trade, REUTERS, Reliance, Google, U.S, Vedanta, Ventures, Semiconductor, Intel, Orbit Ventures, Thomson Locations: Gujarat, Gandhinagar, India, DELHI, Abu Dhabi

[1/2] A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, September 6, 2023. Tata Consumer shares surged and closed nearly 4% higher in Mumbai trade after Reuters reported news of the talks. The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. A spokesperson for Tata Consumer Products said it "does not comment on market speculation". The $10 billion valuation sought by Haldiram's for the deal translates to 6.6 times its annual revenue of $1.5 billion, sources said.

Persons: Sriram, Tata, Mukesh Ambani's, Tetley, Haldiram's, Krishan Kumar Chutani, Bain, Ankur Bisen, Manohar Lal Agrawal, Aditya Kalra, Chris Thomas, Edwina Gibbs, Alexandra Hudson Organizations: REUTERS, India Tata, Tata, Pepsi, Bain Capital, Tata Consumer Products, Starbucks, Tata Consumer, Reuters, Haldiram's, Euromonitor International, Tata Group, CNBC TV18, Bikaji Foods, Alexandra Hudson Our, Thomson Locations: Mumbai, India, MUMBAI, DELHI, Singapore, United States, Bikaji

That implies a potential $2.5 billion investment will be equivalent to a 2.5% stake in the company. "Several marquee global strategic and financial investors have shown strong interest in Reliance Retail. Ambani said in 2019 that the group planned to list the retail business in five years. Reliance Retail has more than 18,000 retail outlets, but also a growing e-commerce operation where it competes with the likes of Amazon (AMZN.O) and Walmart's (WMT.N) Flipkart. Reliance Retail reported a consolidated net profit of 91.81 billion Indian rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.

Persons: Ambani, Mukesh Ambani's, Reliance, Morgan Stanley, QIA, Ambani's, Isha Ambani, Aditya Kalra, Scott Murdoch, Sriram, Munsif Vengattil, Susan Fenton Organizations: Retail Ventures, Reuters, Qatar Investment Authority, India's, Burberry, Reliance, Reliance Retail, KKR, Saudi Public Investment Fund, General Atlantic, United Arab, Unilever, Thomson Locations: SYDNEY, Qatar, U.S, China, United Arab Emirates, New Delhi, Sydney, Mumbai

The company already owns digital streaming rights to the popular Indian Premier League Twenty-20 (IPL T20) tournament. Ambani snatched away the rights from the Disney Plus Hotstar streaming service in a $2.9 billion bid last year, and then streamed games for free. This prompted Disney subscribers to flee - out of 61 million users in October 2022, about 21 million had left by July this year. Last year, Disney renewed its media rights to show International Cricket Council's tournaments in India from 2024 to 2027 after winning a bid for $3 billion. It later licensed the TV broadcast rights to India's Zee Entertainment (ZEE.NS) and only regained the digital streaming rights, a source told Reuters.

Persons: Mukesh Ambani, Francis Mascarenhas, Mukesh Ambani's, Walt Disney, Viacom18, Ambani, Karan Taurani, Aditya Kalra, Nandan Mandayam, Biplob Kumar Das, Sonia Cheema Organizations: Reliance Industries, REUTERS, Walt, Control, Cricket, BCCI, Indian Premier League, Disney, Elara, Reuters, Asia Cup, ICC Cricket, India's Zee Entertainment, Thomson Locations: Mumbai, India, India's

☆ QIA picks stake in Ambani's Indian retail behemoth at $100 bln valuation
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

Shopping trolleys are seen parked outside a Reliance supermarket in Mumbai, India, March 16, 2021. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsBENGALURU, Aug 23 (Reuters) - Qatar Investment Authority will invest 82.78 billion rupees ($1 billion) for about 1% stake in Reliance Retail Ventures, the retail arm of India's Reliance Industries (RELI.NS) valuing the company at $100 billion, the companies said on Wednesday. Headed by billionaire Mukesh Ambani's daughter Isha Ambani, Reliance Retail Ventures houses retail operations, including international partnerships and consumer goods business. Reliance Retail, a unit of Reliance Retail Ventures, was recently valued at $92 billion to $96 billion by two global consultants, a move that could signal an eventual initial public offering of the company. Reliance Retail is India's largest retailer and has been partnering with a slew of global brands to launch and expand their presence in India.

Persons: Niharika Kulkarni, Mukesh Ambani's, Isha Ambani, Andrew Mills, Savio D'Souza Organizations: Reliance, REUTERS, Rights, Qatar Investment, Reliance Retail Ventures, India's Reliance Industries, KKR, General Atlantic, Saudi Public Investment Fund, Sethuraman NR, Thomson Locations: Mumbai, India, Bengaluru, Qatar

☆ India's Jio launches Netflix subscription on prepaid plans
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks across the LED board showing the logo of Jio at the ongoing India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. REUTERS/Anushree Fadnavis/File Photo Acquire Licensing RightsAug 18 (Reuters) - Reliance Jio Infocomm, the telecom arm of Indian billionaire Mukesh Ambani's Reliance Industries (RELI.NS), said on Friday it has launched a Netflix subscription on prepaid plans. Jio said that around 400 million prepaid customers will get the option of availing a Netflix subscription through two packages, one priced at 1,099 rupees ($13.23), which will give access to Netflix on mobile platforms, and the other for 1,499 rupees, providing access to a basic package for large screens. Jio's peers, Bharti Airtel (BRTI.NS) and Vodafone Idea (VODA.NS), provide subscription to the Disney+ Hotstar streaming service through prepaid bundled plans. ($1 = 83.0797 Indian rupees)Reporting by Ashna Teresa Britto; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Anushree, Mukesh, Jio, Tony Zameczkowski, Ashna Teresa Britto, Sonia Cheema Organizations: Mobile, REUTERS, Reliance Industries, Netflix, Bharti Airtel, Vodafone, Disney, Jio, Thomson Locations: Pragati, New Delhi, India

NEW DELHI, July 27 (Reuters) - Walt Disney's (DIS.N) India streaming service plans to start enforcing a policy of allowing its premium users to login from only four devices, an effort aimed at limiting password sharing in a key market, two sources with direct knowledge said. In India, a premium account of Disney+ Hotstar streaming service still allows logins on as many as 10 devices, even though its website currently says "number of devices that can be logged in" is four. Industry data says Hotstar is market leader in terms of users with approximately 50 million. The new planned restriction will also apply to its cheaper plan which will limit usage across two devices, the second source added. Disney's Hotstar topped India's streaming market between January 2022 and March 2023 with a 38% share of viewership, while rivals Netflix and Prime Video held 5% each, data from research firm Media Partners Asia showed.

Persons: Walt Disney's, Disney's, Disney, Mukesh Ambani's JioCinema, Hotstar, Walt Disney, Aditya Kalra, Munsif Vengattil, Jane Merriman Organizations: Netflix, Disney, Media Partners, Media Partners Asia, Thomson Locations: DELHI, DIS.N, India

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