  The Board of Reliance Communications (RCom) approved a proposal on Thursday to acquire Cable TV service provider, Digicable. The deal will be executed in an all-stock deal.
Post acquisition, Digicable will be known as ‘Reliance DigiCom’ and will compliment RCom’s DTH, IPTV and Retail Broadband operations.
The new entity will be India’s as well as Asia’s largest and world’s 5th largest triple-play service provider.
Commenting on the acquisition, Mr. Anil D. Ambani, Chairman, Reliance Communications, said, “Reliance Communications led the telecom revolution in India by growing its subscriber base to over 100 million customers in a short span of just five years. The Digital TV and Broadband space is poised for similar explosive growth in the years ahead. With this game changing move, we hope to lead the next revolution in digital home entertainment in India, by offering a world class TV experience and ultra high speed broadband capability to a billion people.”
“The new company, Reliance DigiCom, will fuel our ‘4-screen strategy’ to own mobile, cinema, TV and computer screens, that are rapidly becoming an integral part of our customers’ daily lives, leading to world-class convergence of information, communication and entertainment solutions and services,” he added. |