Mukesh Ambani’s Reliance Industries responds to rumours on buying Hathway Cable; here’s what it says

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Updated: October 3, 2018 4:29:01 PM

Reliance Industries on Wednesday clarified that it is "unable to comment on media speculation and rumors".

reliance, reliance industries, hathway cableReliance Industries Limited (RIL) clarified on rumours related to buying of Hathway Cable.

Mukesh Ambani’s Reliance Industries on Wednesday clarified that it is “unable to comment on media speculation and rumors” on acquiring Digital cable TV and broadband services provider Hathway Cable. Responding to a stock exchange’s query, RIL said it will continue to make disclosures in compliance with the company’s agreements with the stock exchanges.

“We are unable to comment on media speculation and rumors and it would be inappropriate on our part to do so,” RIL said in a regulatory filing to the BSE. “The Company evaluates various opportunities on an ongoing basis,” the filing said. The company added that there is no information which has not been announced to the stock exchanges and which should have been announced by the Company in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The response from the company came after the stock exchange sought clarification from the company on rumors that RIL was in talks to acquire Hathway to expand its Jio GigaFiber broadband network. Reliance Jio Fiber broadband service was officially announced to roll out across the country as Jio GigaFiber in July. Jio GigaFiber is a Fibre-to-the-Home (FTTH) broadband service offered to the users via fixed lines.

Recently last month, Reliance Industries had announced a five-year content syndication deal with Star India for the former’s video streaming platform JioTV, which enabled Jio users to watch live cricket journeys on Hotstar easily. Reliance Industries shares closed Wednesday’s trade at Rs 1,205.30 on the BSE, down 2.13%.

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