Posted in Latest Business news

Reliance and Aircel will merge their wireless business in india

Bizbilla – Latest business news

 

Anil Ambani-owned Reliance Communications has announced that it is in talks with Aircel to merge their wireless businesses.

 

anil-reliance

According to the company’s statement, the potential combination will exclude RCom’s towers and optical fibre infrastructure, for which the company is proceeding with an asset sale, as announced on December 4, 2015. RCom further said that the discussions are non-binding in nature and there is no certainty that they will lead to any transaction.

 

The company has entered into a 90-day exclusivity period with Aircel’s majority owner Malaysia’s Maxis Communications Bhd and another shareholder Sindya Securities and Investments Pvt Ltd, Reliance said in a statement.

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