GTPL Hathway, the Multi system operator (MSO), will buy additional 13% equity shares in GTPL Space City, a subsidiary company in which the company presently holds 61.50% equity shares. Thus, the company’s shareholding will increase to 74.5%. The company will also acquire remaining 49% stake in GTPL Junagadh making it a wholly owned subsidiary of the company. It owned 51% stake in the company prior to the acquisition.
The company board has approved the acquisition of additional stakes in these two subsidiaries besides the sale/transfer of shareholding and preferential shares in a subsidiary company. As per company, the board has also approved the sale/transfer of all 51.08% shareholding comprising 16,08,000 equity shares of Rs.10 each and 11,80,840, 10% Cumulative Convertible Preference Shares of Rs. 10 each in GTPL Chelikam Network India aggregating to Rs. 1.18 crore.
As reported earlier, in September last year, GTPL Hathwayhad bought remaining stakes in three cable TV companies following which these companies became wholly owned subsidiaries.
Source: http://cablequest.org/index.php/news/cable-news/item/12886-gtpl-hathway-board-approves-buying-of-additional-stake-in-two-subsidiary-cos
As reported earlier, in September last year, GTPL Hathwayhad bought remaining stakes in three cable TV companies following which these companies became wholly owned subsidiaries.
Source: http://cablequest.org/index.php/news/cable-news/item/12886-gtpl-hathway-board-approves-buying-of-additional-stake-in-two-subsidiary-cos
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