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Stonepeak acquire Astound Broadband from TPG for $8.1 Billion

3Nov By PriyankaNo Comments

ACQUISITION

Stonepeak acquire Astound Broadband from TPG for $8.1 Billion

PRINCETON, N.J., 3rd Nov 2020-- Stonepeak, a private equity firm specializing in infrastructure investing acquire Astound Broadband (Astound), the sixth-largest U.S. cable operator for $8.1 billion. Stonepeak will acquire the company from TPG Capital and Patriot Media Management. The transaction is expected to close in the second quarter of 2021 and is subject to customary closing conditions, including regulatory approvals. Stonepeak is partnering with Patriot Media, the industry-leading management team headed by Steve Simmons and Jim Holanda that currently manages Astound. The company is a premier broadband provider offering internet, entertainment, communications, connectivity, and fiber infrastructure solutions for residential customers and businesses of all sizes. The...

Reliance Jio To Have 1 Million Recharge Outlets At Launch

4Aug By RishabhNo Comments

News

Reliance Jio To Have 1 Million Recharge Outlets At Launch

Reliance Jio Infocomm is setting up 500,000 activation outlets and close to a million recharge outlets to prepare for the launch of its 4G services in the coming months. Reliance Jio, which will compete with the likes of Bharti Airtel and Vodafone in offering 4G services, expects to play a "significant role" in lifting India to among the top 10 nations in Internet penetration, from the current 155 rank, its parent Reliance Industries said in its annual report. "With respect to sales and distribution, Jio will have half-a-million activation outlets and close to a million recharge outlets at launch. This will be in addition to the digital channels that Jio is promoting for seamless activation and recharge facilities for customers," it said. All outlets will have real-time access to the 1,072...

23Jun By Press Trust of IndiaNo Comments

CHINA

Chinas 4G Users Touches 530 Million, Worlds Largest

High-speed network 4G has become immensely popular in China as the number of its users shot to 530 million in Q1 this year, exceeding the number of 4G users in the US and Europe put together, a senior official said today. China has the worlds largest 4G network, covering all cities and major towns, Chen Zhaoxiong, vice minister of industry and information technology told the 2016 China Internet Conference. China had around two million 4G base stations at the end of March, he added. Chinas mobile Internet users hit 619 million at the end of last year, accounting for a bit more than 90 per cent of the total netizens. The Internet has become a critical element of Chinas economic development, he said. The size of the Internet economy amounted to 1.12 trillion yuan (USD 171 billi...

Reliance Jio Will Be Ready to Commercially Launch in 2016: Mukesh Ambani

21Feb By AnkitaNo Comments

Entrepreneurs Talk

Reliance Jio Will Be Ready to Commercially Launch in 2016: Mukesh Ambani

New Delhi: Mukesh Ambani, India’s richest person, has said Reliance Jio will be ready to commercially launch its much talked about 4G telecom services in second half of 2016, offering 80% of Indians high-speed mobile Internet as well as voice services. Reliance Jio had, in late December, unveiled fourth generation (4G) service for its employees, marking Ambani’s return to the telecom sector years after Reliance Group’s telecom unit had gone to his younger brother Anil following a split between the two siblings. “We’ll be ready to launch in the second half of 2016. 80% of India’s population will have high-speed, mobile broadband internet. ”So 80% of the 1.3 billion Indians will have high-speed, mobile internet. And by 2017, we would cover 90%. And by 2018, all of India would be covered by ...