YOU Telecom Acquires Bangalore Based Cable Operator To Enter Cable TV Business
By Nikhil Pahwa - Mon 07 Jan 2008 01:22 AM PST
YOU Telecom, a Internet Service Provider in which Citigroup Venture Capital has majority stake, is entering the Cable TV business by acquiring 50 percent stake in Digital Infotainment, a Banglore based cable operator reports Indiantelevision.com. The acquisition has been done via a cable TV subsidiary formed by YOU Telecom, called Digital Outsourcing, in which YOU Telecom owns 51 percent stake, and the rest is held by Indian shareholders (due to foreign direct investment constraints). Citigroup Venture Capital owns 85 percent of YOU Telecom, while BCCL (Times of India Group) had acquired 5 percent stake in the co last year. Earlier last year, YOU Telecom had acquired Ahmedabad based ISP Icenet, and there were plans to raise money for Rs. 300 crore expansion.
Why don't you make one?