RCOM, Aircel merger talks on track
Limited, the shareholders of Aircel Limited, by 60 days to May 22 to consider the potential combination of the Indian wireless business of RCOM and Aircel and mutually derive the expected substantial benefits of in-country consolidation, including opex and capex synergies and revenue enhancement.
The discussions are non-binding in nature. Any transaction is subject to completion of due diligence, definitive documentation and regulatory, shareholders’ and other third party approvals. Hence, there is no certainty that any transaction will result.
Reliance Communications Limited, founded by the late Dhirubhai H Ambani (1932-2002), is the flagship company of the Reliance Group. The Reliance Group currently has a net worth in excess of Rs 91,500 crore (US $15.3 billion), cash flows of Rs 10,200 crore (US $1.7 billion) and net profit of Rs 4,700 crore (US$ 0.8 billion).
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