Merger of RCOM and Aircel likely to be completed this month

Reliance Communications (RCOM) and Aircel are likely to complete their merger by end-June 2016. Both RCOM and Aircel are likely to hold 50 per cent stake each in the merged entity, which will be the country’s third largest telecom operator in terms of number of subscribers. The companies will also transfer Rs 140 billion each of their debt to the new entity. Meanwhile, RCOM is simultaneously merging Sistema Shyam TeleServices Limited’s wireless business with itself.