The on/off merger talks between Essel-backed Dish TV and Bharti’s Airtel Digital TV are definitely off.
Reportedly the talks ended with basic differences over each company’s valuations. The talks have rumbled on for some 8 months, with Dish said to be unhappy with the terms on the table from Airtel. Airtel was looking to merge but only via an all-stock agreement.
Heavily indebted Dish was looking for an all-cash deal and local reports suggest that it will now seek a global investor to buy into Dish and take possibly half the business.
Dish has a 30 per cent market share and almost 24 million subs, while Airtel Digital TV has a 24 per cent share and less than 16 million subscribers.