Thakur
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DEN Networks is demerging its broadband business under a wholly owned subsidiary called Skynet Cable Network.
The multi-system operator (MSO) has received board approval for this. The regulatory approvals are being awaited.
DEN is not looking to list the demerged entity.
There will be no change in the shareholding of the company and Skynet pursuant to the scheme of arrangement.
The scheme will involve cash consideration based on the net value of the assets and the liabilities of demerged undertaking.
The demerger is meant to achieve structural and operational efficiency, enhance competitiveness and greater accountability, accelerating value creation for shareholders, as well as to focus on the ISP business and on the significant growth potential of high-speed data and related services in India.
Read more at: http://www.televisionpost.com/cable/den-gets-board-approval-to-demerge-broadband-biz/ | TelevisionPost.com
The multi-system operator (MSO) has received board approval for this. The regulatory approvals are being awaited.
DEN is not looking to list the demerged entity.
There will be no change in the shareholding of the company and Skynet pursuant to the scheme of arrangement.
The scheme will involve cash consideration based on the net value of the assets and the liabilities of demerged undertaking.
The demerger is meant to achieve structural and operational efficiency, enhance competitiveness and greater accountability, accelerating value creation for shareholders, as well as to focus on the ISP business and on the significant growth potential of high-speed data and related services in India.
Read more at: http://www.televisionpost.com/cable/den-gets-board-approval-to-demerge-broadband-biz/ | TelevisionPost.com
