Hathway Cable to spin off broadband arm

16 Oct 2015

Cable TV and broadband provider Hathway Cable has announced plans to spin off its broadband operations into a new company, Hathway Broadband, Live Mint writes, citing a filing with the Bombay Stock Exchange. The planned demerger is aimed at accelerating value creation for Hathway shareholders, with the statement noting that: ‘The separation will allow Hathway Cable to aggressively focus on the significant growth potential for high speed data and related services in India.’ CEO and Managing Director Jagdish Kumar explained that the market dynamics of the cable TV and broadband sectors are different and that the customers and shareholders would be better served by two distinct entities, specialising in their respective areas.

According to TeleGeography’s GlobalComms Database, Hathway Cable is one of India’s largest multi-service operators, with a cable footprint of more than 1.8 million homes across 21 cities and an estimated 340,000 broadband subscribers at end-June 2015.

India, Hathway Cable (incl. GTPL)