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Breaking News :  Hathway to demerge broadband business
Thursday 15-October-2015, 20:05,
Hathway to demerge broadband business
MUMBAI: Hathway Cable & Datacom is
demerging its broadband business in a
wholly owned subsidiary, Hathway
Broadband Pvt Ltd, in order to
aggressively focus on the growth
potential for high speed data and
related services in India.
The board of directors of Hathway has
given its in-principle approval to
demerge, transfer and vest the
company’s entire broadband business
into Hathway Broadband.
The company said that carve out of
the broadband business is aimed at
accelerating value creation for
Hathway shareholders.
Hathway Cable & Datacom MD & CEO
Jagdish Kumar said, “We are uniquely
placed to leverage our leading position
in the cable television industry and
our brand to provide Indian
subscribers with a world class
broadband experience. This
restructuring recognises that the
market dynamics of the broadband
business are unique as compared to
our parent cable television business.”
He added that the separation is a step
towards increasing the broadband
business’ customer focus and market
competitiveness and in delivering a
superior value proposition to
subscribers.
Globally, wireline or fixed broadband
has emerged as a key driver of
technology adoption and overall, GDP
growth. India lags most countries
including countries in Asia in wireline
broadband penetration reaching only
about 8 per cent of the potential
universe.
Hathway Broadband intends to take
the lead in driving wireline broadband
penetration in India and become a key
player in Prime Minister Narendra
Modi’s ‘Digital India Initiative’.
The Company believes that its hybrid
fiber coax infrastructure on DOCSIS
3.0 platforms is the most effective
and sustainable technology in a price
sensitive market like India.
The demerger is subject to regulatory
and other requisite approvals.
http://www.televisionpost.com/cable/hath...-business/
ANIL G
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