Reliance to bid MGM

Anil Ambani Reliance Entertainment could opt for a non-binding bid on the Hollywood studio Metro-Goldwyn-Mayer (MGM). According to reports, there are 12 bidders who have shown interest in the studio till now. However, several non-binding bids are also expected and one among them is Reliance Entertainment. It is important to mention here that the non-binding bid means the bidder can remove or amend the bid at a later stage. Unconfirmed reports say that Reliance Entertainment is expected to finalize the bid next week as it wants to expand its presence in Hollywood.