RCom Receives Shareholder Nod For The Demerger Of Wireless Business Into AIRCEL Ltd

The Scheme was also approved by shareholders of RTL at their meeting held today pursuant to the order of the NCLT.

The Shareholders of Aircel Limited have also approved the said scheme at their meeting held on April 22nd, 2017, convened under the order of the NCLT.

The Company has already received approval from the Securities and Exchange Board of India, BSE Limited, National Stock Exchange of India Limited and Competition Commission of India for the proposed Scheme of Arrangement.

The RCOM-Aircel merger will create a strong operator clearly ranked amongst India’s top 4 telcos by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles.

The merged entity will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands, and will enjoy enhanced business continuity through the extended validity of spectrum holdings till 2033-36.

It will be one of India’s largest private sector companies, with an asset base of over Rs. 65,000 crores (USD 10 billion) and net worth of Rs. 35,000 crore (USD 5.38 billion).

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About Suhani Varma

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