Veecon Media and Television Limited entered into binding memorandum of understanding to acquire Reliance BIG TV Limited from Reliance Communications Limited (NSEI:RCOM) on November 6, 2017. As on November 27, 2017, Veecon Media and Television Limited and Pantel Technologies Pvt Ltd entered into binding share purchase agreement to acquire Reliance BIG TV Limited from Reliance Communications Limited (NSEI:RCOM). Pursuant to the transaction, Veecon Media and Television Limited will acquire the entire shareholding Reliance BIG TV Limited, along with all existing trade liabilities and contingent liabilities. The transaction ensures the continuity of employment for approximately 500 employees of Reliance BIG TV Limited. The transaction is subject to approvals from licensors, regulatory authorities and lenders of Reliance Communications Limited. As of February 15, 2018, the transaction is approved by the shareholders of Reliance Communications Limited. As of December 18, 2017, Pantel Technologies Pvt Ltd completed the acquisition of Reliance BIG TV Limited recently. Veecon Media and Television Limited and Pantel Technologies Pvt Ltd completed the acquisition of Reliance BIG TV Limited from Reliance Communications Limited (NSEI:RCOM) on January 10, 2018. As of January 10, 2018, Veecon Media and Television Limited completed acquisition of Reliance BIG TV Limited.