EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 30/10/2024

In electronic form on the EUR-Lex website under document number 32024M11650

EUROPEAN COMMISSION

Brussels, 30.10.2024 C(2024) 7751 final

PUBLIC VERSION

Reliance Industries Limited 3rd Floor, Maker Chambers IV, 222, Nariman Point 400021 Mumbai India

The Walt Disney Company 3 Queen Caroline Street Hammersmith, W6 9PE London United Kingdom

BTS Investment 1 Pte. Ltd. 9 Raffles Place, #26-01, Republic Plaza 048619 Singapore Republic of Singapore

Dear Sir or Madam,

1(1) On 9 October 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which the undertakings Reliance Industries Limited (“RIL”, India), The Walt Disney Company (“TWDC”, US), BTS Investment 1 Pte. Ltd. (“BTS1”, Singapore), ultimately controlled by James Murdoch (US) and Mr Uday Shankar (India), will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over a newly created joint venture, Star India Private Limited (“SIPL”, India), by way of 3purchase of shares. ()

() OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision.

() OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

() OJ C, C//2024/6215, 16.10.2024.

(2) The business activities of the undertakings concerned are the following:

– RIL is a multi-national conglomerate which is active in a number of businesses worldwide, including (i) media and entertainment (including through its subsidiary Viacom18); (ii) hydrocarbon exploration and production; (iii) petroleum refining and marketing; (iv) advanced materials and composites; (v) renewables (solar and hydrogen); (vi) the provision of retail and digital services; and (vii) the provision of telecommunication services,

– TWDC is a diversified international media and entertainment enterprise that includes three core business segments: entertainment, sports and experiences, listed on the New York Stock Exchange,

– BTS1 is an investor in consumer technology opportunities in Southeast Asia, with a particular focus on India.

(3) SIPL will be active in entertainment businesses primarily in India.

4(4) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(b) and (d) of the Commission Notice on a simplified treatment for 4certain concentrations under Council Regulation (EC) No 139/2004. ()

(5) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

() OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).

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