 "RIL to acquire majority shares in Hathway, DEN for Rs 52.3 billion")
Reliance Industries (RIL), the country’s largest company by market capitalisation, said on Wednesday it was acquiring majority stakes in Hathway Cable & Datacom and DEN Networks for Rs 52.30 billion.
The announcement brings to an end speculation about the contours of the deal, which had intensified over the last few days. RIL will pick up a 51.3 per cent stake in Hathway for Rs 29.40 billion through a preferential allotment of shares. In DEN’s case, it will acquire 66 per cent for Rs 22.90 billion -- through a preferential issue of Rs 20.45 billion and buying shares worth Rs 2.45
