Telecom operator Reliance Communications (RCom) Wednesday said it has extended the exclusivity period with shareholders of Aircel for potential combination of mobile businesses of two companies.
New Delhi: Telecom operator Reliance Communications (RCom) Wednesday said it has extended the exclusivity period with shareholders of Aircel for potential combination of mobile businesses of two companies.
"... Extended the exclusivity period with Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited, the shareholders of Aircel Limited, by 60 days to May 22, 2016, to consider the potential combination of the Indian wireless business of RCom and Aircel," RCom said in a statement.
On the other hand, RCom is in advanced stage to merge mobile business of Sistema Shyam Teleservices with the company.
RCom and Aircel talks, if successful, the combination of RCom, Aircel, MTS wireless businesses will hold 19.3 per cent of the total spectrum allocated to the industry - the highest in the country by an entity.
The new entity, which is in the works, will hold spectrum across all allocated bands -- 800 Mhz, 900 Mhz, 1800 Mhz, 2100 Mhz and 2300 MHz -- for 2G, 3G and 4G services.
On December 4, RCom said it had signed a non-binding pact to sell its cellular towers to private equity firm Tillman Global Holdings LLC and TPG Asia Inc in an estimated Rs 30,000 crore deal to pare debt.
RCom extended talks with regard to this deal as well and is yet to close it. However, the deal is facing some hurdles over valuation of mobile towers.