New Delhi: Telecom majors Bharti Airtel and Reliance Jio are set for another face-off, this time in the entertainment segment as both the companies plan to offer bids for stake in the Zee Entertainment Enterprises, sources privy to the development said. Bharti Airtel has already initiated the efforts and is likely to make a formal proposal soon, sources said while Reliance Jio Infocomm is also considering a bid.
This comes amid reports that the Japanese media major Sony Corporation’s bid to acquire Zee Entertainment Enterprises has been put off due to differences of valuation. This has helped US cable company Comcast-Atairos become the frontrunner in the acquisition talks.