Market Insight

Reliance strengthens its grip on the Indian media business with cable operator acquisitions

October 23, 2018  | Subscribers Only

Constantinos Papavassilopoulos Constantinos Papavassilopoulos Associate Director, Service Providers & Platforms

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Reliance Industries, the parent company of Indian telecom operator Reliance Jio, announced on 17 October that it is investing 52.3 billion Indian rupees ($720 million) to acquire controlling stakes in cable operators Hathway Cable & Datacom and DEN Networks. Specifically, Reliance Jio has agreed to pay 22.9 biliion rupees ($315million) for a 66% share in DEN Networks and 29.4 billion rupees ($405million) to acquire a 51.3% share in Hathway Cable & Datacom.

Reliance Jio has also announced its interest in acquiring more shares from both operators. The telco is in talks with Hathway to acquire full of control of GTPL Hathway (Reliance Jio has a 37.3% stake currently). Finally, Reliance Jio wants to acquire another subsidiary of Hathway, a company called Hathway Bhawani Cabletel and Datacom.

Reliance Jio is the largest mobile telecom operator in India, with a subscriber base of 227 million at the end of June. It is implementing the roll-out of its fibre (FTTH) services in around 1,100 cities starting in Q4 2018.   

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