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Reliance Communications and Aircel in talks to merge wireless business

Reliance Communications has entered into a non-binding but exclusive discussions with Aircel to merge their wireless business operations, the company informed via a notification on the Bombay Stock Exchange. The telecom operator said that is is in talks with Malaysia's Maxis Communications Berhad and Sindya Securities and Investments Private Limited, the shareholders of Aircel Limited. The talks however, excludes Reliance Communications towers and optical fibre network infrastructure for which the company is going ahead with the asset sale as announced on December 4. The objective of a potential merger would be "to mutually derive the expected substantial benefits of incountry consolidation, including opex and capex synergies and revenue enhancement," said a statement by Reliance Communications. "The discussions are non-binding in nature. Any transaction will be subject to due diligence, definitive documentation and regulatory, shareholders’ and other third party approvals," Reliance added. Merger with…

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