Reliance Big TV to Be Acquired by Pantel Technologies and Veecon Media; RBTV to Renew License and Continue Offering Services

Follow Us

Anil Ambani-led Reliance Communications Limited (RCom) has entered into a binding Share Purchase Agreement with Pantel Technologies Pvt Ltd and Veecon Media & Television Limited for sale of its subsidiary Reliance BIG TV Limited (RBTV), engaged in the business of Direct-to-Home (DTH) services across India.

reliance-digital-tc




"Pursuant to this transaction, the buyers will acquire the entire shareholding of RBTV with business on an “as-is, where-is” basis," said RCom in a media statement.

On this occasion, Mr Vijender Singh, Chairman & Managing Director, Pantel Technologies Pvt Ltd, said: “Pantel Technologies is a young Information Technology and Communication devices company, selling innovative Tablet PC(s) under the brand name of Penta T-Pad(s) in the Indian, South-East Asian, GCC and African markets. Pantel Technologies has collaborated with Mauritius Telecom—the telecom service provider of Mauritius—bringing digital computing solutions to the Mauritian and African markets at affordable prices."

The existing DTH license of BIG TV will be renewed, and the required Bank Guarantees have already been submitted to the Ministry of Information and Broadcasting.

The transaction ensures that all 1.2 million customers of BIG TV shall continue to enjoy uninterrupted DTH services. It also ensures continuity of employment for approximately 500 employees of RBTV, which will be a huge relief for the employees.

The transaction will help reduce the liability of unsecured creditors, benefitting all stakeholders, including lenders and shareholders of RCom. The transaction is in consonance with RCom’s stated objective to focus on B2B businesses of the new RCom.

The successful culmination of the transaction is subject to requisite approvals from licensors, regulatory authorities (Ministry of Information & Broadcasting) and lenders of RCom.

RCom, a couple of weeks ago entered into a memorandum of Understanding (MoU) with Veecon Media and Television Limited, for sale of its subsidiary Reliance BIG TV Limited (RBTV). And today, Pantel Technologies has joined the VMTL.

Recent Comments

TheAndroidFreak :

Off Topic :Nothing Phone 3

OnePlus 13 and Xiaomi 15 to Feature Qualcomm Snapdragon 8…

rks :

Kahan kahan kiya Bhai Mera village Aaj bhi tujhe pukare jo 2g lagaya h usko 4g kar de Zara.

Vi Added 100 Towers Every Hour to Expand Network

TheAndroidFreak :

Off Topic: REDMI Turbo 4 Spotted on BIS Certification with model no 2412DPC0AI 6.67",1.5K Resolution 120HZ Refresh Rate MTK Dimensity…

OnePlus 13 and Xiaomi 15 to Feature Qualcomm Snapdragon 8…

TheAndroidFreak :

Off Topic: Poco F7 Ultra camera 50MP Light Hunter 800 1/1.55" OIS Primary 32MP 120° FOV Ultra-wide 50MP JN5 1/2.76"…

OnePlus 13 and Xiaomi 15 to Feature Qualcomm Snapdragon 8…

TheAndroidFreak :

Off Topic : Battery life will be crazy. ??

OnePlus 13 and Xiaomi 15 to Feature Qualcomm Snapdragon 8…

Load More
Subscribe
Notify of
4 Comments
newest
oldest most voted
Inline Feedbacks
View all comments