RIL close to taking stakes in Hathway and DEN

16 Oct 2018

Reliance Industries Limited (RIL), the parent group of disruptive 4G startup Reliance Jio Infocomm (Jio), is expected to announce deals to buy controlling stakes in multiple system operators (MSOs) Hathway Cable and DEN Networks in the next few days, the Economic Times cites people with direct knowledge of the matter as saying. The acquisition forms part of the group’s efforts to accelerate its entry into the high-speed home broadband market and the firm is expected to purchase stakes of more than 25% in each of the companies to grant them a seat on their respective boards and to allow RIL to influence the companies’ developments.

India, Hathway Cable (incl. GTPL), Reliance Jio Infocomm (Jio)