Reliance Jio Stake in DEN Networks Increases by 12%, Telco to Rollout FTTH Service By Last Mile Connectivity

Back in January, Reliance Jio Infocomm and its subsidiaries had applied for clearance from the Competition Commission of India (CCI) for buying a significant stake in the two cable and broadband companies – DEN Networks and Hathway Cable and Datacom which was granted to the telecom operator. The parent company of Reliance Jio filed the clearance, Reliance Industries Limited acquired 66% stake in DEN Networks for Rs 2290 crore and 51.3% stake for Rs 2,940 crore in Hathway Cable and Datacom, and along with that, RIL had also claimed a small stake in GTPL Hathway. Now, news has surfaced revealing that RIL has increased its stake in DEN Networks thus giving it more control in the company.

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Reliance Industries Limited Increases Stake in DEN Networks

As per the disclosures of SEBI Regulations for Substantial Acquisitions of Shares and Takeovers (SAST), three Reliance Jio companies have issued information to the stock exchanges that they have increased their holdings in Indian multi-system operator (MSO) Den Networks from 66.57% to 78.62%, meaning that the telco has increased its stake by 12.05% which translates to roughly 5.75 crore shares.

It is worth noting that while Reliance Jio has been teasing the launch of its service, Reliance Jio GigaFiber and JioTV for quite some time, the telco had been facing hurdles in the last mile connectivity for FTTH. However, to resolve these issues, Reliance Jio bought stakes in cable companies in one sweep which included big names in the industry like DEN Networks and Hathway Cable and Datacom. With these companies under its banner, now Reliance Jio will be able to delve its hands into last mile connectivity for its subsidiaries.