MUMBAI: Ahmedabad-based Gujarat Telelinks Private Ltd (GTPL), a joint venture where Hathway Cable & Datacom has 50 per cent stake, has acquired a majority stake in an Assam-based cable TV network.

GTPL has taken a 51 per cent stake in V&S, a Dibrugarh-based multi-system operator (MSO) that has presence in the neighbouring towns of Tinsukia, Digboi, Sivasagar, Demow, Moran, Margherita and Ledo in Upper Assam.

“We intend to expand through this MSO in Assam, including Guwahati, and the north eastern region. We have done a valuation based on a profit ratio over 2-3 years,” said GTPL CMD Anirudh Sinh Jadeja, while declining to disclose the acquisition price.

Industry sources, however, said GTPL will be paying around Rs 12 million for the stake purchase.

GTPL had earlier bought 51 per cent in Kolkata Cable and Broadband Pariseva to set foot in West Bengal. A dominant player in Gujarat, GTPL has also spread across Maharashtra, Jharkhand and Bihar.

GTPL, which has expanded fast, will not pursue more acquisitions. “We will conserve capital for digitisation. We are not looking at more acquisitions unless there is a very lucrative opportunity,” said Jadeja.

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