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

Mukesh Ambani-led Reliance Industries Limited (RIL) 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,

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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 (real-time, as per both Bloomberg and Forbes), 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. 

Founded in November 2007, Viacom18 is a joint venture between US-based Viacom (now Paramount Global; 13.01%) and Ambani's TV18 (73.91%), and Bodhi Tree Systems.