Mukesh Ambani's take control on Hathway & DEN
By MYBRANDBOOK
Reliance Industries soon to take controlling stakes in two companies are into cable TV and broadband service providers, Hathway Cable to speed up its rollout of Jio Gigafiber service and DEN Networks, to provide high-speed broadband network, will spend 52.3 billion rupees to acquire controlling stakes in the two cable TV operators connect 50 million households with high-speed Internet in the world’s second-most populated nation.
Billionaire Mukesh Ambani will purchase a 51.3 percent stake in Hathway Cable and Datacom Ltd. and 66 percent shares of Den Networks Ltd., Reliance said in a statement on Wednesday.Both the companies have informed the stock exchanges that the respective boards had a meeting on October 17 to discuss and approve a proposal for raising funds.
Hathway Cable is owned by the Raheja Group while Sameer Manchanda owns DEN Networks. The equation is like, Hathway has 7.2 million cable subscribers,0.77 million broadband subscribers in 350 cities in India and whereas DEN networks has 7.2 million cable subscribers,0.10 million broadband subscribers in 200 cities in India.
With this RIL, would enter into infrastructure of MSOs (multiple system operators) to give both video and broadband services, which is of great demand. The go-to-market would be through Hathway and DEN networks, RIL would cover North, Central and Western part of the country. Since, DEN is strong in Uttar Pradesh and North India. Whereas. Hathway has strong presence in central and western India. The interesting thing is RIL’s own subsidiary, Reliance Jio Media, owns a pan-India cable licence, since 2015.With this there will a strong Digital push to happen in the country.
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