Dubai firm takes 40% stake in Time Broadband

Dubai Investment Group (DIG) has bought 40% stake in Time Broadband Services (TBSL), an Internet Protocol Television (IPTV) service provider in India, for an unspecified amount.

The investment, which has been routed through DIG's subsidiary Dubai Ventures, will help TBSL launch IPTV-related services in India and abroad.

"We found an ideal partnership in TBSL, which has a team of competent professionals having in-depth knowledge of their specialised technology," DIG chief executive officer Abdulhakeem Kamkar said in a statement.

Sujata Dev, managing director of TBSL, said with the expertise of DIG as a strategic partner, the company would "offer a true IPTV experience to Indian subscribers and possibly to a global audience in the near future."