Reliance to rollout fibre to 50m homes as they buy majority stakes in Den Networks and Hathway cable for £542.5m

 

Reliance Industries has said it will buy majority stakes in Den Networks and Hathway Cable and Datacom two of India’s largest cable and wired internet services providers. Reliance will take 66 per cent in Den for £237.5m and 51.3 per cent sgtake in Hathway for £305m. The deal will accelerate JioGigaFibre rollout to 50 million homes.

According to Anshuman Thakur Jio’s head of strategy and planning definite agreements to acquire the stakes have been signed by arms of parent Reliance Industries.

 

These two operators have a network of over 27, 000 local cable operators and can reach 245 million homes across 750 cities, whose relationships with housing societies can be an asset to JIo as it seeks to connect homes.

 

Reliance Industries is targeting to reach 50miilion homes in 1, 100 cities with the new network.

The company has already tied up with TV stations to carry content to homes through the fibre.

The overall subscriber base of Jio crossed 252million at the end of September 2018.