India's Hathway, DEN Networks rise on report of Reliance Ind's stake buy plan

Den Networks

16/10/2018 05:47

** Shares of cable TV and broadband service providers
Hathway Cable & Datacom  HAWY.NS  and DEN Networks Ltd  DENN.NS 
rise 8.16 pct and 7.82 pct, respectively   
    ** Reliance Industries Ltd (RIL)  RELI.NS  could buy
controlling stakes in the two companies to boost its high-speed
broadband network, Economic Times reported https://bit.ly/2PBJ2qa
 on Tuesday 
    ** RIL is likely to own more than 25 pct in Hathway and DEN,
the report added
    ** RIL, the parent company of Reliance Jio, had unveiled its
fibre broadband system JioGigaFiber in July in a push to make
deeper inroads into the country's wireless and fixed-line
internet industry  urn:newsml:reuters.com:*:nL4N1U12D1
    ** Hathway's stock shot up to a 3-mth high on Oct 4 after
media reports said RIL in talks to buy the company; both cos
said they will not comment on speculation  urn:newsml:reuters.com:*:nL4N1WK148  
    ** Hathway, DEN and RIL were not immediately available for a
comment 
    ** RIL  RELI.NS  shares up as much as 0.81 pct at 1,149.00
rupees