Videocon Industries to sell its D2H business: Report

Global conglomerate, Videocon Industries is reportedly planning to sell its direct-to-home (DTH) business-- Videocon D2H --to one of its rivals. Videocon's D2H brand was the sixth player to enter the DTH space.

The company competes with Dish TV, Tata Sky, a JV between Tata Group and Rupert Murdoch’s Sky, by Bharti Airtel owned Airtel Digital TV, Anil Ambani controlled Reliance Digital TV,  and Sun Direct, which is the fifth operator, primarily focused in southern India. It is reported that, ace rivals such as Tata Sky and Dish TV have denied being in any talks with Videocon for any sort of consolidation.

Back in the November 2011, the company was planning to dilute its 25% stake in DTH business for $75 million to $100 million. The company also hired UBS to search for a potential investor.