RCom to advertise absolute shareholding of DTH business to book maker Pantel, Veecon Media
NEW DELHI: Reliance Communications said that it has entered into a bounden allotment acquirement acceding with Pantel Technologies and Veecon Media & Television Limited for auction of its DTH company, Reliance BIG TV Limited (RBTV).
RCom, in a statement, said that the buyers will access the absolute shareholding of RBTV with business on an “as-is, where-is” basis. “The acknowledged acme of the transaction is accountable to requisite approvals from licensors, authoritative authorities (Ministry of Information & Broadcasting) and lenders of RCom,” it added.
The Anil Ambani-led telco said that the absolute DTH authorization of BIG TV is actuality renewed, and it has submitted appropriate coffer guarantees to the Ministry of Information and Broadcasting.
“The transaction ensures that all 1.2 actor barter of BIG TV shall abide to have a good timeuninterrupted services. It additionally ensures chain of application for about 500 advisers of RBTV,” RCom said.
The transaction will advice abate the accountability of apart creditors, benefiting all stakeholders, including lenders and shareholders of RCom. The transaction is in accord with RCom’s declared cold to focus on B2B businesses of the new RCom.