wordpress blog stats
Connect with us

Hi, what are you looking for?

CCI approves RIL’s DEN Network and Hathway Cable acquisitions

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…

Please subscribe/login to read the full story.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ