Den Networks to demerge ISP ARM Skynet Cable Network


The board of the company in its meeting held today "considered and approved" the demerger of the broadband business, Den networks informed the BSE
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cable TV administrations supplier Den Networks said it has gotten board's endorsement to demerge its broadband/web access supplier arm Skynet Cable Network. The leading group of the organization in its meeting held today "considered and affirmed" the demerger of the broadband business, Den systems educated the BSE.

This was done to "accomplish basic and operational productivity", "upgrade aggressiveness and more noteworthy responsibility and to have "an engaged consideration in the ISP business," it said. Its ISP arm had a turnover of Rs 40.63 crore in FY 2015-16 and contributed 3.53 percent offers in its aggregate income.

Lair Networks further included that there would be no adjustment in the shareholding example of the organization and Skynet in accordance with the plan. The plan would be liable to endorsement of the shareholders, who will meet on September 29, 2016.

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