Advertisement


Advertisement

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Breaking News : Anil Ambani may sell reliance DTH business to Maran’s Sun Group
#1
Advertisement
Anil Ambani is likely to sell his DTH business — Reliance Digital TV — to Kalanithi Maran for about Rs 2,500 crore. Discussions are in the final stage and the deal may be announced as early as within a month, sources said.
Reliance Communications (RCOM) operates DTH services. At
present, RCOM is struggling with a debt of around rupees 37,000 crore. The deal, if it happens, will help Ambani retire a part of the debt.

Reliance Digital TV currently has about six million subscribers, while Sun Direct, Maran’s DTH company, has 8.5 million DTH subscribers and has a strong base in the southern states of the country.

When contacted, a spokesperson of RCOM declined to comment. The Sun group CFO also did not respond to HT’s phone calls.

During the last two-and-a-half months, Anil Ambani has announced two major deals for leasing infrastructure to elder brother Mukesh Ambani's company Reliance Jio Infocomm (RJI).

On April 2, the two brothers announced a rupee 1,200-crore deal, under which Mukesh’s RJI will use optic fibre cables owned by Anil’s RCOM.

This was followed by a rupee 12,000-crore deal on June 7, under which RJI will use the mobile phone towers of RCOM.

According to the terms of the deal, there is no upfront payment and RJI will make annual payments of rupee 1,000 crore for about 12 years to RCOM. This is likely to help RCOM service its rupee 2,700-crore annual debt payment obligation.

The company is also said to have been in talks with Providence Equity Partners, a US-based leading private equity firm, for selling majority stake in Reliance Globalcom, its international undersea cable subsidiary. It may raise around $1.2 billion by selling about 80% stake in the company.

Source: http://www.hindustantimes.com/business-n...75901.aspx

I also thank Deep from another forum.
Try and spread the message of happiness and peace everywhere:happy:
Thanks given by:
Advertisement
#2
Good news for SD customers
Thanks given by:
#3
this is a BIG BIG fake newss ?????
Thanks given by:
#4
Fake news or not time will only tell.
Try and spread the message of happiness and peace everywhere:happy:
Thanks given by:
#5
even the cc don't know about this but all people are talking about merging its a fake news
Thanks given by:
#6
Fake newssss.......
Thanks given by:
#7
Again discussion or rather fighting going on this unconfirmed news of merging. It is not benefiting any one now hence closing the thread.
___________________________________________
Airtel Digital HD Recorder / Kerala Vision Digital TV
Thanks given by:
Advertisement




Possibly Related Threads...
Thread Author Replies Views Last Post
  DTH Updates: DD UP channel on Sun Direct is now shared from Reliance Digital TV TP Sathish 0 652 07-30-2015, 04:08 AM
Last Post: Sathish
  Breaking News: Sun TV group’s TV transmission business in a fix adithya 1 1,193 09-12-2014, 08:52 AM
Last Post: adithya
  Breaking News: Reliance Digital TV & Sun Direct back in merger talks MAHI 2 1,463 08-08-2014, 12:58 PM
Last Post: vicky
  DTH News: Reliance DTH Sharing Channels List sam16 11 7,051 07-09-2014, 12:00 PM
Last Post: sam16
  DTH News: Sakshi TV on Sun Direct now shared from Reliance Digital TV TP Sathish 1 1,081 10-10-2013, 08:39 PM
Last Post: MAHI
  Help: Weak business momentum for the group DTH arm Sun Direct Sathish 0 1,364 09-13-2013, 06:00 PM
Last Post: Sathish
  Update: Sundirect & Reliance is Merging MAHI 35 5,591 08-20-2013, 01:17 PM
Last Post: nipinlal007
  IDF Exclusive: Any updates about merging SD and Reliance? sam16 86 8,345 08-11-2013, 03:35 PM
Last Post: manikanth
  Help: Reliance Communications, Sun Group in talks to merge their DTH businesses kallem007 8 2,121 03-17-2013, 05:44 PM
Last Post: manikanth
  More trouble for Dayanidhi Maran; grant of DTH to Sun Direct under CBI scanner IndianDTH 0 931 01-04-2013, 07:10 PM
Last Post: IndianDTH

Forum Jump:


Users browsing this thread: 1 Guest(s)
Advertisement