On April 6, Norway’s Government Pension Fund Global (GPFG) increased its stake in multi system operator (MSO) DEN by buying 18,34,784 or 0.9% stake at Rs 104 a piece for Rs 19.08 crore. It is a sovereign wealth fund of Government of Norway.
DEN provides cable TV and broadband services in the country. Following the purchase, DEN Networks’ shares rose 3% to Rs 108.1. Prior to the acquisition, GPFG held 1.5% stake in the company at the end of the December quarter. Now, its total stake in the company stands at 2.4%.
Currently, DEN Networks reaches 13 million cable TV households in 500+ cities across 13 key states. Its subsidiary DEN Broadband provides high-speed broadband internet services of up to 100 Mbps speed using DOCSIS 3.0 and GPON technology and is presently available in Delhi & NCR and parts of Uttar Pradesh and Rajasthan.
DEN also owns an OTT App ‘DEN TV+’.
Source: http://cablequest.org/index.php/news/cable-news/item/12654-norway%E2%80%99s-government-pension-fund-global-acquires-den-shares-worth-rs-19-08-cr
Currently, DEN Networks reaches 13 million cable TV households in 500+ cities across 13 key states. Its subsidiary DEN Broadband provides high-speed broadband internet services of up to 100 Mbps speed using DOCSIS 3.0 and GPON technology and is presently available in Delhi & NCR and parts of Uttar Pradesh and Rajasthan.
DEN also owns an OTT App ‘DEN TV+’.
Source: http://cablequest.org/index.php/news/cable-news/item/12654-norway%E2%80%99s-government-pension-fund-global-acquires-den-shares-worth-rs-19-08-cr
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