RIL In Talks To Buy Hathway

Reliance Industries has initiated talks to acquire 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.

“It’s too early to say if the deal will go through or not, but RIL is aggressively pursuing it,” a source said. The valuation figure being discussed is around Rs 2,500 crore, the source added.

RIL and Hathway didn’t respond to ET’s request for comment until press time.

Hathway is a multi-system operator, the industry term for a cable company that signs content and carriage deals with broadcasters, and offers the services to local cable operators.

Hathway, which had a net debt of Rs 1,617 crore at the end of March, is looking to deleverage its balance sheet by Rs 500 crore in the next two years. – The Quint