Dubai firm picks 40% stake in Time Broadband

Dubai firm picks 40% stake in Time Broadband
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First Published: Tue, Aug 28 2007. 02 34 PM IST
Updated: Tue, Aug 28 2007. 02 34 PM IST
PTI
New Delhi: Dubai Investment Group has bought a 40% stake in Time Broadband Services Ltd, a new Internet Protocol Television (IPTV) service provider in India, for an unspecified amount.
The investment, which has been routed through DIG’s subsidiary Dubai Ventures, will help TBSL launch its IPTV-related services in India and abroad.
“We found an ideal partnership in TBSL which has a team of competent professionals having an in-depth knowledge of their specialized technology,” DIG chief executive officer Abdulhakeem Kamkar said in a statement.
“We are impressed by the initiatives of the state-owned telecom firms, where they are heavily investing in the latest technology to upgrade their telecom networks to gear up for broadband play,” he said.
Sujata Dev, Managing Director of TBSL, said with the expertise of DIG as a strategic partner, the company would “offer a true IPTV experience to Indian subscribers and possibly to a global audience in the near future”.
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First Published: Tue, Aug 28 2007. 02 34 PM IST