 "Den Networks")
Cable service provider Den Network plans to demerge its broadband business into a wholly owned subsidiary.
Besides, the company is also looking to demerge its cable business of its 23 subsidiaries companies and merge them into itself.
The board of company at its meeting held today gave "its in-principle approval "to demerge, transfer and vest the company's entire broadband business into its wholly-owned subsidiary company", Den Network said in a BSE filing.
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It further said the board also approved "merge or demerge the cable business of 23 subsidiary companies into DEN Networks Limited, the holding company".
However, the demerger of the broadband business and the merger of the cable business will be subject to regulatory approvals, it added.
"The definitive terms and conditions of the proposed demerger of broadband business and merger/demerger of the cable business are being evaluated. The draft scheme shall be placed before the board for approval," it added.
