Pace confirms India talks
DIGITAL television techonology developer Pace has confirmed it is in talks over the launch of a new digital service in India.
The company was the subject of speculation yesterday that it had secured a contract with Indian pay-television provider Tata Sky to provide set-top boxes.
In a statement to the stock market this morning Pace said it could “confirm that it is currently working to agree contract terms with a satellite operator for the launch of a new digital service”.
The value of Pace shares rose more than 10% yesterday as the market reacted to the prospect of the company benefiting from a market that is expected to grow rapidly over the next decade. They closed last night at 213.3p, up 20.4p.
One estimate has suggested pay-tv in India could have as many as £50m subscribers by 2014.
Tata Sky is a joint venture between the Tata Group conglomerate and Rupert Murdoch’s News Corp.
