Hathway to hive off broadband business to subsidiary

By PTI
16 October, 2015

Cable services provider Hathway Cable and Datacom today said it would transfer its broadband-based Internet service business to its subsidiary Hathway Broadband.

As part of restructuring the business, company’s board today gave its ‘in-principal’ approval to “demerge, transfer and vest” its entire broadband business to the subsidiary, Hathway said in a statement.

However, the same would be subject to mandatory approval from its shareholders, creditors and regulatory bodies, it added.

Commenting on the development, Hathway Cable and Datacom Ltd MD & CEO Jagadish Kumar said: “The restructuring recognises that the market dynamics of the broadband business are unique as compared to our parent cable television business.” 

“The separation is a step towards increasing the broadband business’ customer focus and market competitiveness as well as in delivering a superior value proposition,” he added.


Leave Your Comment
Hathway reverses plan to hive off broadband unit, to demerge cable biz instead

Hathway reverses plan to hive off broadband unit, to demerge cable biz instead

Ranjani Raghavan 7 months ago
Hathway Cable and Datacom Ltd has scrapped its plan to hive off its broadband business into a subsidiary. Instead, the firm has decided to separate...
Providence raises stake in Hathway Cable for $36.4M

Providence raises stake in Hathway Cable for $36.4M

TEAM VCC 2 years ago
Global private equity firm Providence Equity Partners invested Rs 241 crore ($36.4 million) to buy additional stake in the country’s top television cable distributor Hathway...
Exclusive: Cable operator GTPL Hathway hires merchant banks for IPO

Exclusive: Cable operator GTPL Hathway hires merchant banks for IPO

Gujarat-based multi system operator (MSO) GTPL Hathway Pvt. Ltd, which counts the country’s top cable operator by revenues Hathway Cable &Datacom Ltd, as a key shareholder,...
No Comments

Hathway to hive off broadband business to subsidiary

Powered by WordPress.com VIP