RComm, Aircel to merge wireless ops

RComm, Aircel to merge wireless ops

PTIUpdated: Thursday, May 30, 2019, 02:41 PM IST
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New Delhi : The Reliance Communications and Aircel merger is likely to be announced within 15 days, after months of extended negotiations, and the new entity is expected to have Rs 25,000 crore business from the first day of its operation. “The deal is almost in final stage. Synergies between the two companies have been worked. The merger should be announced within 10-15 days. The resultant entity will have revenue of about Rs 25,000 crore from day 1,” a source told PTI.

In a BSE filing, RCom said that Maxis Communications Berhad and Sindya Securities and Investments, the shareholders of Aircel, expect to sign binding definitive documentation and announce the proposed transaction for the combination of the Indian wireless business very shortly. Last month, the two firms had decided to extend by 30 days the discussion period for their possible merger. This was for the second time the companies had extended the discussion period for the merger.

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