Tuesday, December 22, 2015

Reliance Communications is going to talk with shareholders of Aircel to merge businesses


RCom - "Reliance Communications" is going to talk with shareholders of telecom operator Aircel for a potential merger of the wireless or mobile businesses for both of the companies.

The idea is to mutually derive estimated substantial benefits of in-country consolidation, including operating expenditure (opex) & capital expenditure synergies & revenue enhancement, RCom told in a statement. "The discussions are non-binding in nature. Any transaction will be subject to due diligence, definitive documentation & regulatory, shareholders' and other 3rd party approvals. Hence, there is no certainty that any transaction will result," the company told.

The potential combination will exclude RCom's towers & optical fibre infrastructure, for which RCom is proceeding with an asset sale, as declared on Dec 4, 2015.

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