MUMBAI : India’s richest man, Mukesh Ambani, is muscling into the cable TV sector as part of a media and telecoms offensive.
Ambani controls Reliance Industries, an oil and gas behemoth that is India’s most profitable conglomerate, reports agency.
He is also now targeting consumers, taking steps most recently into telecoms, where he has spent at least $18 billion on 4G telecoms brand RJio, due to launch this year.
Now, he plans to spend around $2 billion over three years to capture TV sets, two people with direct knowledge of the matter said, as he eyes an opportunity to use his financial clout in what is a highly fragmented sector.
Reliance Industries declined to comment on its plans.
