RIL in talks to acquire controlling stake in GTPL Hathway

Reliance Industries Limited (RIL) is in talks to acquire a controlling stake in GTPL Hathway, a leading multi-system operator (MSO). The move comes after RIL recently acquired a 51.3 per cent stake in Hathway for Rs 29.4 billion and a 66 per cent stake in DEN for Rs 22.9 billion. Since Hathway owns 37.3 per cent of GTPL Hathway, RIL will get an indirect 19 per cent stake in GTPL Hathway through the acquisition of a 51.3 per cent stake in Hathway for Rs 29.4 billion. GTPL Hathway has 7.6 million active digital cable sub-scribers in India. It dominates the Gujarat market with a 67 per cent share and over 4 million subscribers. It is the second largest MSO in West Bengal with a 24 per cent market share. It is present in over 500 cities in 11 states and works with 20,000 local cable operators.