RCOM-Aircel merger deal gets CCI approval

Aircel India
Reliance Communications has received an approval of the Competition Commission of India (CCI) for the proposed demerger of the wireless division of the company into Aircel.

The Anil Ambani-promoted telecom company has already received approval from the Securities and Exchange Board of India (SEBI), BSE (BSE) and National Stock Exchange of India (NSE) for the proposed merger.

Reliance Communications has filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the merger. The proposed transaction is subject to other necessary approvals. Post closing, Reliance Communications and the present shareholders of Aircel will hold 50 each in Aircel.

Latest

More like this
Related

Telia CEO Patrik Hofbauer reveals customer focus

Telia CEO Patrik Hofbauer says the telecom operator has...

Airtel Africa CEO reveals strategic priorities

Airtel Africa continues to drive its strategic priorities by...

Vodafone made world’s first video call via satellite using smartphone

Vodafone CEO Margherita Della Valle has revealed the telecom...

Tim Hottges retains CEO job at Deutsche Telekom

Telecom operator Deutsche Telekom has extended contract of Tim...