Hathway Cable acquires remaining 49% stake in Channel 5
Channel 5 has now become a wholly owned subsidiary of the company
Hathway Cable and Datacom has acquired the balance 49% equity stake (i.e., 2,39,235 equity shares) from the existing shareholders of Hathway Channel 5 Cable and Datacom (Channel 5), a subsidiary of the Company for an aggregate consideration of Rs 40,000.
The acquisition of equity shares is for consolidation of business operations. With this acquisition, Channel 5 has now become a wholly owned subsidiary of the company.
Hathway Cable and Datacom is engaged in distribution of internet services through cable and has strategic stake in entities engaged in Cable Television business.
