Reliance Industries to buy majority stakes in Den Networks Ltd and Hathway

Vastavam web: Reliance Industries Wednesday said it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore. RIL will make a “primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 per cent stake in DEN”, the company said in a statement. Also, it will make a primary investment of Rs 2,940 crore through a preferential issue for a 51.3 per cent stake in Hathway.