News Corp sold its stake in Hathway Cable & Datacom for 358 crore Rupees

Mar 13, 2012, 17:25 IST

Corporate Current Affairs 2012. Rupert Murdoch-led News Corp on 12 March 2012, sold its entire 17.3 per cent stake in Hathway Cable & Datacom for 358 crore Rupees

Rupert Murdoch-led News Corp on 12 March 2012, sold its entire 17.3 per cent stake in Hathway Cable & Datacom for 358 crore Rupees. The media conglomerate sold its stakes to two foreign funds.

While Macquarie Bank Ltd purchased nearly 1.05 crore shares for about Rs 153 crore, remaining 1.41 crore shares were purchased by Providence Equity Advisors Mauritius Ltd for about Rs 205 crore.

Hathway's cable caters its cable television services to across 140 cities and towns and high-speed cable broadband services across 21 cities. Company holds an internet service provider license for the entire country and offers broadband Internet services.

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