RCOM to sell DTH business to Pantel Technologies and Veecon Media

Reliance Communications (RCOM) has entered into a binding share purchase agreement with Pantel Technologies and Veecon Media and Television Limited for the sale of its direct to home (DTH) company, Reliance BIG TV Limited (RBTV). The buyers will acquire the entire shareholding of RBTV and will operate on an as is, where is basis. The transaction is subject to requisite approvals from licensors, regulatory authorities and RCOM’s lenders.