RCom-Aircel extend merger deal talks by 2 months

Industry:    2016-03-24

Reliance Communications is continuing exclusive talks with the promoters of Aircel on combining their wireless businesses, extending the period by 60 days to May 22 following “good progress made so far.” “The discussions are nonbinding in nature. Any transaction is subject to completion of due diligence, definitive documentation and regulatory, shareholders’ and other third-party approvals,” RCom said in a notice to the BSE after the markets closed. “Hence, there is no certainty that any transaction will result.” The Anil Ambani-run telco’s stock ended unchanged at Rs 51.95 on the BSE. RCom, India’s fourth-largest carrier, has been in merger talks with Maxis Communications Berhad and Sindya Securities and Investments Pvt. Ltd., the promoters of Aircel, for a 90-day period since December 22. http://economictimes.indiatimes.com/articleshow/51528284.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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