GTPL Hathway to buy ACT Group’s cable TV business in ₹36 crore deal
NEW DELHI: GTPL Hathway said it will acquire the cable TV business of ACT Group in a ₹36.23 crore deal, as part of its strategy to expand its operations.
To this extent, Hathway has entered into a business transfer agreement with seven companies of ACT Group, including ACN Cable, ACT Digital Home Entertainment, Atria Broadband Services, Kable First India, Sri Venkateshwara Digital Home Entertainment, Mandapeta Digital Entertainment, and IB Communications Network, to acquire their cable television business for “an aggregate cash consideration of ₹36.23 crore, by way of slump sale on a going concern basis”, the Reliance Industries Group-controlled firm said in a filing with the National Stock Exchange (NSE) Tuesday.
