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RCom-Digicable deal under govt lens - Sathish - 07-14-2011

The Reliance Communications’ (RCom’s) deal to buy cable operator Digicable has come under the scanner of the information & broadcasting (I&B) ministry over the issue of cross-holding rules.

Cable and DTH companies cannot hold more than 20 per cent stake in each other.

In July last year, RCom had announced the formation of a new entity, Reliance Digicom, through acquisition of Digicable in an all-stock deal. The deal has got the go-ahead from the high court.

Reliance Digital TV, the DTH arm of the Anil Dhirubhai Ambani Group, internet protocol TV (IPTV) and broadband services which are part of RCom were to come under Reliance Digicom along with the cable TV business of Digicable.

Read Full Story at Indian DTH Blog