RCom's Digicable deal pushes up the share price

RCom's Digicable deal pushes up the share price

Reliance Communications' acquisition of Digicable has been taken up on a positive note by the markets. The shares price rise of Rcom is an evidence of that. The price of RCom shares went up 1.38 per cent at Rs 194.95 in the morning at the bourses.

The announcement was made in the late half of Thursday.

This increase happened after the Anil Ambani-owned telecom company approved a proposal of taking over of Digicable, which is into the business of providing television services.

No details about the financial of the deal were disclosed.

IBM gets orders worth $83 million from Digicable

IBM-digicable-logoIndian cable and broadband distribution firm Digicable and US-based IT giant IBM today signed a deal worth $83 million under which IBM would outsource its services for providing support for the integration of the Indian firm's digital media content delivery and value-added services.

The 10 year deal would also help to strengthen the position of Digicable by supporting its interactive TV and Internet services on TV of the firm, having more than 8 million subscribers in 70 Indian cities.