wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

Telenor in talks with RCOM for a potential merger deal: report

Norway-based telco Telenor is looking to merge its India operations with Reliance Communications, reports ET, citing un-named sources. Telenor was in talks with RCOM for a possible merger of its customer base, spectrum holdings, and the entire business unit with Aircel-Rcom merged entity. According to the report, Telenor’s proposal included a 10% stake in the merged entity, with Aircel and RCOM owning 45% each in the joint venture. A spokesperson from Telenor told MediaNama: "As a general principle Telenor does not comment on market rumors and speculations." RCOM did not respond to our query yet. Note that Telenor was reportedly in talks with Airtel for a $350 million merger earlier this month. Airtel was looking to acquire half of Telenor India’s liabilities, while Telenor was looking to hold the remaining half. Both companies did not comment on the reports when MediaNama wrote to them. However, the speculated Telenor-RCOM merger is of a different nature. The Aircel-RCom merger which is worth Rs 65,000 crore (~$9.7 billion) could be in jeopardy due to Aircel promoter Maxis Berhad’s role in the infamous 2G scam.  This month, the Supreme Court ordered Maxis, which owns 74% stake in the company to attend a lower court for proceedings; it added that Aircel’s 2G spectrum in 14 circles could be withdrawn if the promoters don’t show up. It’s unlikely that Reliance might call off the Aircel-RCOM merger since Aircel’s 2G spectrum is at stake with the SC judgment, its 3G spectrum allocated to it via auctions will remain…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Vaishnaw's remarks come a day after Google removed apps belonging to Matrimony.com, Info Edge (Naukri and 99 Acres), Shaadi.com, Altt, Truly Madly, Stage, Quack...

News

Paytm has started distancing itself from PPBL in light of the current negative spotlight on PPBL.

News

The move can be seen as an attempt by Paytm to distance itself from the troubled Paytm Payments Bank, which has been significantly restricted...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ