UK-based private equity (PE) firm Ashmore Investment, which holds 49% stake in Mumbai-based cable company Digicable Network, has initiated talks with a host of companies to sell its stake in the venture, two persons familiar with the matter said. According to an executive in the investment banking space, Ambit Finance is advising Ashmore Investment in its bid to exit Digicable, a mid-sized cable company that claims to have over 8 million subscribers. However, ET could not independently verify it. An email sent to Ambit Finance did not elicit any response. As per another executive in a media company, Ashmore has been looking to sell its stake for a few months now. As per the FDI rules in India, an international company can own up to 49% stake in a cable company and Ashmore can not increase its stake further. […]