RIL announces open offer to acquire additional 26 per cent stake in Hathway Cable and Datacom

February 4, 2019

Reliance Industries Limited (RIL), along with its group companies (including Jio Content Distribution and Jio Internet Distribution Holdings) has announced an open offer to acquire an additional 26 per cent stake in Hathway Cable and Datacom Limited for Rs 14.89 billion. To this end, RIL has proposed acquiring up to 460 million fully paid-up equity shares from Hathway Cable and Datacom Limited’s public shareholders at a price of Rs 32.35 per equity share. Earlier, RIL had received CCI approval to acquire a 66 per cent stake in DEN Networks and a 51.3 per cent stake in Hathway Cable and Datacom Limited for a total consideration of Rs 52.3 billion.