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RCom-Aircel Merger Not Happening: Anil Ambani Decides
October 05, 2017
Reliance Communications, which is in debt to the tune of Rs. 46,000 crores, recently called off merger talks with Aircel and disclosed an alternative roadmap for debt reduction that involves the sale of real estate, fiber, and tower businesses.
Anil Ambani gave an official statement on the merger talks, citing “legal and regulatory delays” and that the merger “lapses with mutual consent”.
RCom also said that a high level of competition is another reason behind the termination of the merger talks.
The RCom-Aircel merger was expected to bring the debt of RCom and Aircel down to Rs. 20,000 crores and Rs. 4,000 crores, respectively.
