Multi System Operator (MSO) Hathway Cable and Datacom has acquired the balance 49 stake in subsidiary company Hathway Digital Saharanpur for a cash consideration of Rs 25 Lakhs post which the company is now a wholly owned subsidiary of the company.
The acquired company was incorporated in India in 2008 which is Cable Television business which has been non-operational for the past three financial year without any operating revenue incurring a loss of Rs 0.64 Lakh, Rs 6.79 Lakh, and Rs 1.04 Lakh in the last three financial years.
The acquisition is a strategic one for ease of business operations which will enable Hathway group to widen the cable television business segment across the geographical areas and serving customer with an enriching experience.
The investment is free of any governmental or regulatory approvals.
