RCom buys Digicable, India's biggest cable firm

Nicole McCormick
02 Jul 2010
00:00
News
Daily News
Reliance Communications (RCom) announced it will acquire India’s largest cable TV company Digicable, becoming the largest triple play service provider in Asia.
The Indian broadband, wireless and long-haul telco said Thursday it has agreed to acquire pan-Indian cable MSO Digicable in an all-stock deal.
New entity Reliance Digicom, which will house RCom’s DTH, IPTV and retail broadband operations as well as Digicable, will have an estimated value of $1 billion, said Indian Television.
RCom’s stake in Reliance Digicom was not disclosed, but the Economic Times earlier put this at 60%, with Digicom investors –including private equity firm Ashmore – to hold the remaining interest.
Reliance Digicom will be “Asia’s largest and the world’s fifth largest company to offer the full-suite of triple play services – digital TV, ultra high-speed broadband and voice,” the company said.
The new unit would have “a combined subscriber base” of 11 million.

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