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Den Networks, the cable service provider is planning to demerge its broadband business into a wholly owned subsidiary.
The company is also planning to demerge its cable business of its 23 subsidiaries companies and merge them into itself.
Den Network said in a BSE filing that the board of company at its meeting has given “its in-principle approval “to demerge, transfer and vest the company’s entire broadband business into its wholly-owned subsidiary company.”
It has added that the board also approved “merge/demerge the cable business of 23 subsidiary companies into DEN Networks Limited, the holding company”.
The demerger of the broadband business and the merger of the cable business will be subject to regulatory approvals, it said.
