Diabytes
RCom-Aircel merger News
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Reliance Communications (RCOM) has received 99.99 percent shareholders approval for merger of its wireless business with Aircel, a company statement said here on Monday.
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Reliance Communications on Monday said it has received approval of the Competition Commission of India (CCI) for the demerger of its wireless division into Aircel Ltd and Dishnet Wireless Ltd.
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Reliance Communications on Wednesday said it has received approvals from markets regulator SEBI and the stock exchanges for proposed demerger of its wireless business into Aircel Ltd.
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Termed as the biggest consolidation deal in the telecom space of India, Reliance Communications and Aircel merged their wireless operations on September 14 to give birth to an entity with assets worth Rs 65,000 crore.
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The combined entity RCom-Aircel will now be the third largest telecom entity in India by subscriber base, thus moving ahead of Idea Cellular Limited (Idea).
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In the biggest consolidation deal in India's telecom sector, Reliance Communications and Aircel on Wednesday announced the merger of their wireless operations to create a combined entity with assets worth Rs 65,000 crore.
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Telecom operators Reliance Communications and Aircel are expected to sign agreement for merger of their businesses by the first week of September.
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Know how the RCom-Aircel merger will redefine India's telecom industry....
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The combination of RCom, Aircel, MTS wireless businesses will hold 19.3 percent of the total spectrum allocated to the the industry - the highest in the country by an entity.
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