RIL in talks with cable operators to buy minimum 26 % stake: report
16 Jan 2012
Reliance Industries Ltd (RIL), which is making a comeback into telecom sector following the separation of Reliance Infocomm to younger brother Anil Ambani at the time of the division of the group's assets, is in talks with several leading cable operators to buy minimum 26-per cent stakes.
The move that will enable Reliance to garner content and provide last-mile connectivity for its planned wireless broadband services.
The company, India's biggest by market capitalisation, has approached Den Networks, Digicable Networks, Hathway Cable and Datacom, IndusInd Media and Communications Ltd for acquiring a stake, Business Standard reported today .
Last mile is a technical term used to describe the connection to the customer's end from the communications network.
Cable operators and multi-system operators in the country are looking at raising funds for digitisation, with 2012 being the deadline set the government for the metros and 2014 for other parts of the country.
Den Networks was up 9.37 per cent at Rs65.35 rupees and in Hathway Cables up 11.11 per cent at Rs131.95, while Reliance Industries was down in the morning trade.
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