new delhi:Acquisition and merger continues in Indian telecom companies After Airtel-Telenor and Idea-Vodafone, the route for Anil Ambani’s Reliance Communications (RCOM) and Aircel’s merger has now become clear. However, with the launch of Reliance Jio in September, Reliance Communications and Aircel had announced their merger plan.
Reliance Communications and Aircel shareholders have approved the merger of both mobile companies. After the merger, it will become India’s fourth biggest telecom company in terms of revenue and subscribers. In some circles it will be the third largest company.
The company has said that in the case of spectrum this merged entity will be the second largest company.
RCom has said, “With an asset base of Rs 65,000 crore and net worth of Rs 35 thousand crore, the villa unit will be one of the largest telecom companies in India”
According to Reliance Communications, merger with Aircel will become a strong telecom operator in the country which will be involved in India’s top 4 telecom companies.
Reliance Communications on Monday announced that most shareholders have approved the company’s wireless business to merge the Aircel de merge.
It is worth mentioning that R-Com separated the first telecom business from De-Merge for Merger with Aircel. After the merger, both R-Com and Aircel will hold 50 per cent shares and equally shareholders in the Board of Directors.
In the National Stock Exchange filing, the company said, “99.99 per cent shareholders of Reliance Computing Limited have allowed the company’s wireless division and Reliance Telecom Limited to merge the merger with Aircel Limited and Dishnet Wireless Limited during the meeting.”
After the approval of shareholders of both the companies, RCom has said that the company already has the approval of the Securities and Exchange Board of India.
