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Anil Ambani’s Reliance Communications announced on Monday it had entered into an agreement with Veecon Media & Television Ltd (VMTL) to sell the equity shares of its “non-core DTH business”.
VMTL will get close to 1.2 million customers and 500 employees of the RCom subsidiary — Reliance Big TV Ltd — as part of the deal.
The company, which will now have control over some 1.9 per cent of the DTH market, is a new entrant in the business.
Documents available at the Registrar of Companies (RoC) show VMTL took its name and form only five months ago.
Veecon IPA Gastechnik
