Reliance-Sun DTH merger scrapped
November 12, 2013
A proposed merger between two of India’s giant DTH players, Reliance Digital TV and Sun Direct has been called off. Reportedly the talks, only ever at a ‘preliminary stage’ broke down but there were differences over the valuation of the two businesses in regards to their eventual share of the merged company.
The initial plans which first emerged in March called for Reliance to take a 26 per cent stake in the merged enterprise, while Sun Direct’s parent company would have managed the day to day affairs of running the business.
Sun Direct currently has around 8.5 million DTH subs, while Reliance has 4.5 million.
However, another planned merger between three other DTH giants, Zee TV’s Dish TV, Bharti Airtel’s Digital TV, and Videocon’s d2h is still being discussed between the parties.
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