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Our Bureau,

New Delhi, Aug. 24 Dubai Investment Group has acquired 40 per cent stake in the Internet Protocol Television service provider Time Broadband Service Ltd.

Time Broadband declined to comment on the value of the specific investment, but said that Dubai Investment, the global financial investor of Dubai Group, was bullish on this part of the world, given its recent investments in Asian companies. According to Mr Amit Dev, Co-Founder and Chief Technology Officer, Time Broadband, Dubai Investment is looking at playing a major role in India.

“If you want to have a prominent presence in the top 10 markets of India, telecom analysts say investment of at least $120-150 million is needed,” said Mr Dev. The company, which has been running trials of its IPTV service, said Dubai Investment would leverage IPTV-related business opportunities in India and beyond, and is looking at IPTV as an entry and is keen on other convergence businesses. Time Broadband plans to introduce a bouquet of services.

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