Reliance Communications, Aircel likely to merge wireless business

Reliance Communications is in negotiations with Aircel for a potential merger of wireless business.

The company said it is in talks with shareholders of Aircel - Malaysia's Maxis Communications and Sindya Securities and Investments Private Limited.

A statement by Reliance Communication said that the objective of a potential merger would be "to mutually derive the expected substantial benefits of in-country consolidation, including opex and capex synergies and revenue enhancement," .

It also said the current talks would exclude RCom's telecom towers and optic fibre.

Discussions with RCom are currently non-binding and a transaction would be subject to due diligence, definitive documentation and regulatory, shareholders' and other third party approvals, the note further said.

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