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Journalism of Courage
Anil Ambani-led Reliance Communications RCom agreed today to buy countrys largest cable TV service provider Digicable in an undisclosed all-share deal. The RCom board held a meeting today and approved the proposal for the acquisition, a top official said.
When asked about the amount of the proposed deal,the spokesperson of the company declined to comment on the issue. We have not disclosed the value of the deal,but it would come to light very soon, he said.
However,RCom chairman Anil D Ambani said,RCom led the telecom revolution in India by growing its subscriber base to over 100 million customers in a short span of just five years. 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 entity named as Reliance DigiCom is an integration of RComs DTH,IPTV and Retail Broadband Operations,with Digicable. This will be Asias largest and the worlds fifth largest company to offer full suite of triple play services such as digital TV,ultra high-speed broadband and voice.
