Indian energy to telecommunications company Reliance Industries, the parent company of mobile network operator Reliance Jio Infocomm, has announced strategic investments in two multiple system operators (MSOs) to accelerate the planned JioGigaFiber rollout.
Reliance Industries plans to invest 22.9 billion rupees ($311.48 million) to take a 66 percent stake in Indian cable television distribution company Den Networks Limited and also invest 29.4 billion rupees ($400.3 million) for a 51.3 percent stake in peer Hathway Cable and Datacom Limited.
Reliance Industries intends to make open offers for DEN and Hathway shares as well as two Hathway subsidiaries, as required by Indian takeover regulations. Reliance Industries said the acquisitions will accelerate Jio’s efforts to bring the JioGigaFiber service to a potential 50 million homes across 1,100 Indian cities and towns as quickly as possible.
Jio plans to use the JioGigaFiber network to offer high-speed broadband, ultra high definition video streaming, multi-party video conferencing, virtual reality gaming, smart home and artificial intelligence virtual assistant and fixed mobile convergence services. It will work with Hathway and DEN to bring the JioGigaFiber services to the two companies’ customers.