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Reliance Communications (RCom) plans to split off its direct-to-home (DTH) and internet protocol TV (IPTV) businesses into a separate company Reliance Digital Works. The company plans to bring in multi-system operators (MSOs) as stakeholders in the company. Reliance Digital Works may offer a 25% stake to overseas investors and 10% to multi-system operators for digital cable subscription.
The development comes just days after Reliance Communications decided to sell a part of its telecom tower business under its subsidiary Reliance Infratel. Earlier this month, the company had taken permission from its board of directors to sell as much as 26% to investors at a premium to its stock price.