Reliance is ready for a new bang after the cheap data-free call, that's the deal
Reliance Industries Limited (RIL) launched 'Reliance Jio' and launched Tehelm Industry in Tehelka. Reliance is now preparing to explode in the broadband area too. RIL has announced its launch on Wednesday. The company announced on Wednesday that it will buy a stake of 5,230 crore in Den Networks, Hathway Cable and Datacom Limited. Reliance is betting on becoming the largest company in the field of broadband, cable TV and direct-to-home through this deal.
This deal will give Reliance 2.4 million existing cable connections to 750 cities. Along with this deal, the company will get half of its target. RIL has targeted to reach its 50 million homes. The company wants to reach 1100 cities.
RIL has announced that it will buy 66% stake in Den Networks. For this, he will spend Rs 2,290 crore. He will buy 51.3 percent stake in Hathway Cable. For this, he will spend Rs 2,940 crores.
Reliance has said that it will provide upgraded JIO Giga Fiber and Geo Smart Home Solutions with all LCOs besides Dane and Hathway.
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