Malaysian pay-TV operator Astro All Asia Networks has increased its stake in Indian DTH operator Sun Direct by 15% to 35.5% for Rs396-crore (US$87.8m), according to local reports.
Astro allegedly received the green-light to increase its stake in Sun…
Malaysian pay-TV operator Astro All Asia Networks has increased its stake in Indian DTH operator Sun Direct by 15% to 35.5% for Rs396-crore (US$87.8m), according to local reports.
Astro allegedly received the green-light to increase its stake in Sun Direct, which is owned by Asian holding group Kal Media Services, after applying to regulators in July.
Astro went private in June this year when billionaire Ananda Krishnan delisted the group for approximately US$753m.
Announcing Astro’s annual results on 18 June, chairman Dato’ Haji Badri Haji Masri said Sun Direct “continues to perform to expectations as it leverages on the strong demand for digital pay-TV services and India’s favourable regulatory framework”.
At the time, the DTH provider revealed it gained 1.6 million new subscribers in FY2010 to reach a customer base of 4.1 million.
Astro and Sun Direct were unable to comment before going to press.
