MUMBAI: Digicable Network (India) is increasing its stake in Kolkata-based multi-system operator (MSO) CableComm from 51 per cent to 80 per cent as it plans to inject capital to expand the network in the eastern part of the country.
“We are in the process of diluting our stake substantially to make the company more broad-based in digital and Vas (value-added services) areas,” CableComm founder-promoter Dileep Singh Mehta tells Indiantelevision.com.
Singh says he will continue to retain stake in the company, while refusing to specify how much he would hold.
Digicable has invested Rs 300 million in CableComm after acquiring 51 per cent stake in 2008. The focus has been to expand the local MSO’s presence in Kolkata Metropolitan Area and seed digital set-top boxes (STBs).
“We have seeded 25,000 digital STBs and plan to extend our penetration further. We also plan to launch broadband services soon,” says Mehta.
Digi-CableComm Services, as the company is called now, has a presence in 14 out of the 18 districts of West Bengal.
The company recently roped in Indian Cable Net chief executive officer Amit Nag to head its operations. Nag has pulled his core team along with him.
Digi-CableComm has currently retrenched its plans to expand in Orissa. “We had started in Balasore by roping in a few operators. We have decided not to pursue our inter-state ambitions for now and have pulled out of Balasore. Our focus will be to push for digitisation and strengthen our foothold in Kolkata Metropolitan Area,” says Mehta.
