(28 June 2008 9:00 pm)

MUMBAI: Digicable Network (India) has acquired a 51 per cent stake in Kolkata-based CableComm as part of its strategy to expand in the eastern region of India.

As part of the deal, Digicable will use CableComm to expand in other neighbouring parts. The multi-system operator (MSO) has already entered into Jharkhand.

"Digicable has taken a 51 per cent stake. As per the deal, Digicable will have to expand in the eastern region only through us," CableComm chairman Dileep Singh Mehta tells Indiantelevision.com while declining to elaborate on the commercial terms of the deal.

CableComm plans to expand to Orissa and later to the north eastern region, adds Mehta. Local MSO Ortel dominates several cities in Orissa including Bhubaneswar.

CableComm offers its cable TV services to Kolkata, Greater Kolkata and adjoining districts including Howrah, Hoogly, 24 Parganas (South), 24 Parganas(North). Nadia, Beharampore, Birbhum, Purulia, Medinipur East, Medinipur West, Burdwan and Bakura. The MSO entered into Jharkhand three months back.

UK-based Ashmore Investment Management Ltd, a private equity firm which manages a $30 billion fund, has taken a 49 per cent stake in Digicable Network (India), Jagjit Kohli's cable TV venture along with partner Yogesh Shah.