Mumbai, 25/12: Reliance Industries , India’s most valuable company, and Walt Disney signed a non-binding term sheet to merge their Indian media operations, the Economic Times reported on Monday, citing sources it did not name
Under the merger Reliance would own 51 per cent through a combination of shares and cash, with Disney holding the remaining 49 per cent, giving more control to Indian billionaire Mukesh Ambani’s Reliance group, the newspaper said.