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India: RCOM & Aircel may complete $6-billion merger by July

 |  June 13, 2016

Anil Ambani led Reliance Communications and Aircel are in advance negotiations to finalise their much anticipated merger by this early next month, paving the way what would be the first in-market telecom merger of national scale in the country, said officials in the know.

The deadline for exclusive negotiations between both sides was extended for a month till June 22nd and officials are confident of ironing out the outstanding issues within thenext 4 weeks. Sources say, both sides are currently finalising the various commercial and legal terms of engagement.

The arm in turn will get merged into the mobile business of Maxis-owned Aircel. Both partners will have joint 50:50 ownership of this new entity that will remain unlisted in the initial years and operate under a new brand name.

Full Content: Economic Times

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