Reliance Communications Says It Expects to Announce Aircel Merger Shortly

Having extended talks with Aircel two times, Reliance Communications (RCom) Thursday stated it expects to announce the merger with the enterprise “very shortly” after the signing of a “binding definitive” p.c..

“RCom and Maxis Communications Berhad (MCB) and Sindya Securities and Investments Pvt Ltd (Sindya), the shareholders of Aircel Ltd (Aircel), expect to sign binding definitive documentation and announce the proposed transaction for the aggregate of the Indian wi-fi commercial enterprise of RCom and Aircel very shortly,” the company stated in a BSE filing.

It said but that any transaction may be situation to regulatory, shareholders’ and different 1/3 party approvals. “hence, there may be no fact that any transaction will end result.”

earlier final month, the corporation and Aircel had determined to extend by way of 30 days the dialogue duration for his or her viable merger.

This turned into for the second one time the businesses had extended the dialogue duration for the merger. The telcos formerly on March 22 had extended the merger talks with the aid of 60 days.

ultimate 12 months in December, the two firms announced that they have got entered 90-day ‘exclusivity duration’ for the deal so that it will exclude RCom’s tower and optical fibre belongings for which a separate sale technique is ongoing, the agency said in a declaration.

RCom and Aircel talks, if successful, would result in a mixed entity conserving 19.three percentage of the full spectrum allocated to the enterprise – maximum within the u . s . with the aid of an entity.

The proposed combined entity will maintain spectrum throughout all allocated bands – 800MHz, 900MHz, 1800MHz, 2100MHz and 2300MHz – for 2G, 3G and 4G offerings.

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