Reliance Communications (RCom) and Maxis Communications, the promoters of Aircel, have agreed to merge the wireless businesses of RCom and Aircel. On completion, RCom and Maxis will each own 50% of Aircel’s equity share capital.
This deal marks the largest consolidation to date in the Indian telecommunications sector. The merged entity will be one of India’s largest private-sector companies with an asset base of more than ₹650 billion (US$9.7 billion) and a net worth of ₹350 billion. It will also have the second-largest spectrum holding among all operators aggregating 448 MHz across the 850, 900, 1,800 and 2,100 MHz bands.
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