By - { 01/09/11 }

Reliance BIG TV to raise Rs. 2500 Crore via stake sale to US based Comcast

Majority of Anil Ambani’s ADAG companies are on downturn and hitting the ground hard either due to 2G / 3G scam news or the market recession. With the beaten up stock prices, Anil is finding hard to raise money for his business expansions. ADAG’s very few profitable or near profitable businesses like Broadcasting, DTH services are now trying to raise money as the situation is better compared to their peer business units.

NewImageIt is believed that Anil Ambani is in talks with few US based cable operators like Comcast to sell upto 49% stake in his DTH venture for a whopping amount of Rs. 2000 – 2500 Crore. Thats brings the valuation in the range of Rs. 4000 – 5000 Crore.

Reliance BIG TV is the only major DTH player with no foreign investments. Other leading DTH players all have significant stake sold to foreign players.

1. Tata Sky raised Rs. 250 Crore by selling its 10% stake to Temasek (Singapore)

2. Sun Direct raised Rs. 900 Crore by selling its 35% stake to Astro (Malaysia)

On subscriber count, BIG TV is be no where near the top as the leaders in this space are (1) Dish TV (2) Sun Direct (3) Tata Sky. But, if the above believed BIG TV deal goes thru, it will be the largest and would bring the company to the highest valuation in the DTH space. The company has laid out aggressive plans for doubling its subscriber base by next year and the money raised thru stake sale would be put to full use.
Categories: business | deals | media | Mergers and Acquisitions
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