Sahara group is entering cable TV business through its support for the acquisition of Ashmore's 49 per cent stake in Digicable by Steller Interactive Media Pvt Ltd, according to highly placed sources.
Steller Interactive is promoted by Jagjit Kohli and Yogesh Shah.
The transaction will be a two-way process. Steller Interactive Media Pvt Ltd, the parent company through which Kohli and Shah hold their stakes in Digicable and Broadband Pacenet, will first buyout Ashmore with the support of Sahara. Steller Interactive Media, after taking full ownership of Digicable and Ashmore, will then sell majority stake to Sahara.
Post transaction, Sahara is likely to hold 74 per cent stake in both the companies while the remaining will be with Kohli and Shah, sources said.
Read More : Indiantelevision.com's > Digital Edge> Sahara enters cable biz via Digicable
Steller Interactive is promoted by Jagjit Kohli and Yogesh Shah.
The transaction will be a two-way process. Steller Interactive Media Pvt Ltd, the parent company through which Kohli and Shah hold their stakes in Digicable and Broadband Pacenet, will first buyout Ashmore with the support of Sahara. Steller Interactive Media, after taking full ownership of Digicable and Ashmore, will then sell majority stake to Sahara.
Post transaction, Sahara is likely to hold 74 per cent stake in both the companies while the remaining will be with Kohli and Shah, sources said.
Read More : Indiantelevision.com's > Digital Edge> Sahara enters cable biz via Digicable