Breaking News Veecon Media acquires Reliance Big TV
- Thread starter adithya
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IndianMascot
Core Member
Oh,. Its already official now
RCOM signs MoU with Veecon Media for sale of Reliance BIG TV
Anil Ambani-led Reliance Communications (RCOM) has entered into a Memorandum Of Understanding (MoU) with Veecon Media and Television Limited (VMTL), for sale of its subsidiary Reliance BIG TV Limited (RBTV).
“Pursuant to the transaction, the buyer will acquire the entire shareholding of RBTV with business on “as-is where-is” basis, along with all existing trade liabilities and contingent liabilities,” a company statement said adding that the existing DTH license of BIG TV shall be renewed with the submission of the required Bank Guarantees with the Ministry of Information and Broadcasting by the buyer.
The transaction will ensure that 1.2 million customers of RBTV shall continue to enjoy uninterrupted services and the continuity of employment for about 500 employees of RBTV, the statement said.
The transaction will help reduce the liability of unsecured creditors, benefiting all stakeholders including lenders and shareholders of RCOM.
RCOM signs MoU with Veecon Media for sale of Reliance BIG TV - The Hindu
RCOM signs MoU with Veecon Media for sale of Reliance BIG TV
Anil Ambani-led Reliance Communications (RCOM) has entered into a Memorandum Of Understanding (MoU) with Veecon Media and Television Limited (VMTL), for sale of its subsidiary Reliance BIG TV Limited (RBTV).
“Pursuant to the transaction, the buyer will acquire the entire shareholding of RBTV with business on “as-is where-is” basis, along with all existing trade liabilities and contingent liabilities,” a company statement said adding that the existing DTH license of BIG TV shall be renewed with the submission of the required Bank Guarantees with the Ministry of Information and Broadcasting by the buyer.
The transaction will ensure that 1.2 million customers of RBTV shall continue to enjoy uninterrupted services and the continuity of employment for about 500 employees of RBTV, the statement said.
The transaction will help reduce the liability of unsecured creditors, benefiting all stakeholders including lenders and shareholders of RCOM.
RCOM signs MoU with Veecon Media for sale of Reliance BIG TV - The Hindu
IndianMascot
Core Member
after searching google couldn't find anything about veecon media before Oct 2017
it seems that this company has born in last 10 days to buyout reliance digital
it seems that this company has born in last 10 days to buyout reliance digital
Technoglitch
Core Member
Google Veecon group
RJio will buy it.
scorpionking76
EntMnt Knight
