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
1 year ago
Hathway Cable and Datacom Ltd has scrapped its plan to hive off its broadband...
3 years ago
Global private equity firm Providence Equity Partners invested Rs 241 crore ($36...
2 years ago
Gujarat-based multi system operator (MSO) GTPL Hathway Pvt. Ltd, which counts...