Reliance CommunicationsBSE -3.00 % and Aircel, which are in talks to merge, have agreed that the Anil Ambani-run telco will combine its wireless business with the smaller rival owned by Maxis and both parent companies will hold 50% each in what will emerge as India’s No. 3 carrier by users. The two companies, which started a 90-day period of exclusive merger talks on December 22, scrapped an initial plan to form a new listed company to run their combined wireless businesses. Read more at: http://economictimes.indiatimes.com/articleshow/51183146.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Source: Economic TimesReliance Communications, Aircel rejig merger plan; each will hold 50% in new entity.
Industry: Telecom 2016-02-29
