The CCI has approved Reliance Industries' acquisitions of majority stake in DEN Networks and Hathway Cable, via an order dated January 21. RIL can now subscribe to preferential issue of equity shares of DEN and Hathway, and purchase equity share of DEN Networks from existing promoters. The CCI informed MediaNama that a detailed copy of the approval will be released in a few days. A stock exchange filing (pdf) by DEN Networks shows that Jio Futuristic Digital Holdings Private Limited, Jio Digital Distribution Holdings Private Limited and Jio Television Distribution Holdings Private Limited have received the CCI's approval for the acquisition. The acquisition will be carried out via six special purpose vehicles (SPVs) owned and controlled by Digital Media Distribution Trust, of which Reliance Content Distribution Ltd, a subsidiary of RIL, is the is the sole beneficiary. Meanwhile, RIL has received SEBI's comments on the open offer to Hathway's shareholders, and is waiting on the regulator's comments on the open offer to the shareholders of DEN Networks, GTPL Hathway Ltd, and Hathway Bhawani Cabletel and Datacom Ltd. The DEN and Hathway acquisitions In October, RIL had announced that it would acquire a majority stake of 66% stake in DEN Networks via an investment of Rs 2045 crore via preference shares and purchase of equity share for Rs 245 crore. It also said it would acquire a 51% stake in Hathway Cable via preference shares for Rs 2940 crore. Both deals amounted to a consideration of Rs 5230 crore. RIL will now…
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