BloombergBillionaire Mukesh Ambani is in talks to sell his news media assets to India’s Times Group, as Asia’s richest man plans to unload a business that has been losing money, people familiar with the matter said. Ambani is considering various options, ranging from an outright exit to a stake sale, one of the people said. Shares of Network18 yesterday jumped as much as 10 percent in Mumbai and were headed for their highest level in almost six months. Reliance Industries shares yesterday reached a record high, giving the firm a market value of about US$140 billion. Unlisted Bennett Coleman, also known as the Times Group, owns television channels, including Times Now and ET Now.

Source: Taipei Times November 28, 2019 15:56 UTC