Digicable acquired by Reliance Communications

India largest cable TV service provider Digicable will be acquired by Anil Ambani group firm Reliance communications. RCOm will acquire digicable in all stock deal.

Reliance Communications will merge DTH, IPTV and Retail Broadband operations with digicable. And this new firm will be named Reliance DigiCom.

The value of this deal has not been disclosed yet but as per sources it will be around 1 billion US Dollars.More than 60 percent stake will be acquired by Anil Ambani and rest will be with Digicable.

The proposal for the acquisition has been confirmed and the full detail about the deal will be out in few days.