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Current Affairs
Hindi

RCom-Aircel Merger to Create a Dominant Force


Anil Ambani-led Reliance Communications and Maxis Communications Berhad (MCB), promoters of Aircel, on 14 September 2016 agreed to merge their wireless businesses to form the fourth-largest telecom operator in the country.
The merger is termed as the biggest consolidation deal in India's telecom sector.
•    Sistema will continue to hold 10 per cent in standalone R-Com.
•    Both R-Com and Maxis will hold 50 per cent each in the new entity.
•    The merged company will be one of India’s largest private sector companies. It will have an asset base of over 65000 crore rupees and net worth of 35000 crore rupees.
•    The company will be managed by an independent professional team under the supervision of the board.
•    After completion of the merger in 2017, RCom’s overall debt will reduce by 20000 crore rupees or over 40 per cent of its debt.
•    Aircel’s debt will reduce by 4000 crore rupees.
•    It will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35.

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