Astro All Asia Networks plc, through wholly-owned unit, South Asia Entertaintment Holdings Ltd, will invest up to US$166 million (US$1=RM3.45) for a 20 per cent stake in Sun Direct TV Pte Ltd.
In a statement here today, Astro said Sun Direct has a licence to provide direct-to-home digital satellite television services in India.
“The balance 80 per cent in Sun Direct will be held by the Maran group, comprising Kalanithi Maran, promoter and chairman of Sun Network including the flagship company Sun TV Network Ltd and Kavery Kalanithi,” it said.
Astro said the proposal was subject to approval of its shareholders.
“The services are expected to be first offered in the second half of 2007 utilising satellite transponders on INSAT-4B which was launched in March 2007,” it said.
source : bernama