Reliance Communications and Aircel in mobile merger talks
India’s Reliance Communications has entered into non-binding but exclusive talks with Aircel over a potential merger, according to local reports.
The deal would see Reliance’s mobile unit merge with Aircel, and Reliance has allegedly entered into a 90-day exclusivity period with Aircel’s parent firm Maxis Communications as well as another shareholder, Sindya Securities.
In a statement, Reliance said that the merger would “mutually derive the expected substantial benefits of in-country consolidation, including opex and capex synergies and revenue enhancement”.
At present, the talks do not include Reliance’s telecoms towers and optical fibre assets, for which a separate sale has been under discussion since December 4, 2015.