RIL trades marginally lower after announcement of consolidation of business; shares of 3 group entities surge
Shares of Network18 Media & Investments traded 4.89 percent higher at Rs 30.05 on the BSE. RIL stock traded at Rs 1,465
Reliance Industries to consolidate media, distribution businesses; TV18 Broadcast, Hathway Cable, DEN Networks to merge under Network18
According to the scheme, for every 100 shares of TV18, Hathway and DEN, their shareholders would get 92, 78 and 191 shares, respectively, of Network18.
The operating revenue of Reliance Jio rose 55.8 percent to Rs 11,106 crore during the reported quarter, compared to Rs 7,128 crore in the corresponding period of 2017-18.
RIL's open offer to acquire Den Networks, GTPL Hathway to commence today; acquisition to cover half of target to connect homes across India
On 17 October, RIL had announced that it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore
Jio has 2.20 lakh towers and nearly three lakh kilometres of optical fibre assets.
Reliance Industries (RIL) will make investments of Rs 2,290 crore in Den Networks and Rs 2,940 crore in Hathway Cable and Datacom
Reliance Industries Limited is developing its Jio brand as an integrated business capable of offering a combination of telecom, high-speed data, digital commerce, media and payment services.
With the help of DOCSIS 3.0, DEN Networks said it will be able to deliver ultra-high-speed Internet in India.