Reliance Industries has acquired a majority stake in India’s largest cable operator, Hathway Cable & Datacom, in a bid to speed up the commercial launch of its GigaFiber high-speed home broadband services..Reliance has acquired a 51.3% stake through a primary investment of Rs. 2,940 crore through a preferential issue..Cyril Amarchand Mangaldas acted for Reliance Industries and the team was led by Managing Partner Cyril Shroff along with Partners Ravi Kumar, Anchal Dhir, Avaantika Kakkar and Yashojit Mitra..Trilegal advised Hathway and the team was led by Partner Sridhar Gorthi..The move will help in giving a boost to Ambani’s ambitious JioGigaFiber that aims to connect 50 million homes across 1,100 cities, reported ET.
Reliance Industries has acquired a majority stake in India’s largest cable operator, Hathway Cable & Datacom, in a bid to speed up the commercial launch of its GigaFiber high-speed home broadband services..Reliance has acquired a 51.3% stake through a primary investment of Rs. 2,940 crore through a preferential issue..Cyril Amarchand Mangaldas acted for Reliance Industries and the team was led by Managing Partner Cyril Shroff along with Partners Ravi Kumar, Anchal Dhir, Avaantika Kakkar and Yashojit Mitra..Trilegal advised Hathway and the team was led by Partner Sridhar Gorthi..The move will help in giving a boost to Ambani’s ambitious JioGigaFiber that aims to connect 50 million homes across 1,100 cities, reported ET.