Mukesh Ambani & Sunil Bharti Mittal eyeing stake in ZEE

After talks failed between Sony and ZEE, it now is the turn of billionaires Mukesh Ambani and Sunil Bharti Mittal to eye the stake in ZEE Entertainment Enterprises Limited.

Bloomberg reports that Mittal’s Bharti Airtel Ltd has already expressed interest in the company and will soon make a formal proposal. Ambani’s Reliance Jio Infocomm Ltd is the second party, which is expected to submit its interest.

Without giving much away, ZEE said that it did not comment on speculation and that it is in “steady dialogue” with potential partners.

Earlier, talks between ZEE and Sony broke-down over valuation terms. It was reported that Sony was keen on a simple merger, whereas ZEE preferred an outright cash deal.

Keep it with BizAsiaLive.com for more.