Dubai group picks 40% in TBSL
Dubai Investment Group (DIG), one of the leading private equity firms in Dubai, has acquired a 40% stake in Time Broadband Services (TBSL) - an internet protocol television (IPTV) service provider in India - for around Rs 85 crore.
By TNN |
MUMBAI: Dubai Investment Group (DIG), one of the leading private equity firms in Dubai, has acquired a 40% stake in Time Broadband Services (TBSL) - an internet protocol television (IPTV) service provider in India - for around Rs 85 crore. The equity purchase was done through DIG’s subsidiary Dubai Ventures.
The investment by DIG comes at a time when TBSL has planned to launch new services in the domestic and foreign markets. With focus on emerging markets, DIG is expected to leverage IPTV-related business opportunities in India and abroad.
IPTV is a system where a digital TV service is delivered by using internet protocol over a network infrastructure, which may include delivery by a broadband connection. It helps broadband content move across multiple platforms and has the potential to globally change the way people watch cable TV.
DIG’s chief executive Abdulhakeem Kamkar told ET that India is one of their key markets. “We are impressed by the initiatives of the state-owned telecom firms, where they are heavily investing in the latest technology to upgrade their telecom network to gear up for broadband play. We believe that through TBSL we will be able to add value to the growing telecom sector in India,” he said.
The investment by DIG comes at a time when TBSL has planned to launch new services in the domestic and foreign markets. With focus on emerging markets, DIG is expected to leverage IPTV-related business opportunities in India and abroad.
IPTV is a system where a digital TV service is delivered by using internet protocol over a network infrastructure, which may include delivery by a broadband connection. It helps broadband content move across multiple platforms and has the potential to globally change the way people watch cable TV.
DIG’s chief executive Abdulhakeem Kamkar told ET that India is one of their key markets. “We are impressed by the initiatives of the state-owned telecom firms, where they are heavily investing in the latest technology to upgrade their telecom network to gear up for broadband play. We believe that through TBSL we will be able to add value to the growing telecom sector in India,” he said.
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