RCom and Aircel extend merger talks by 30 days
Earlier on March 22 the telcos had extended the merger talks by 60 days.“Based on the substantial further progress made, RCom, Maxis Communications Berhad (MCB) and Sindya have mutually extended the exclusivity period between RCom and MCB and Sindya Securities and Investments Private Limited (Sindya), the shareholders of Aircel Limited, by 30 days to June 22, 2016,” RCom said in a statement.
The discussion has been extended to consider the potential combination of the Indian wireless business of RCom and Aircel and mutually derive the expected substantial benefits of in-country consolidation, including operational and capital expenditure synergies and revenue enhancement.
“RCom is looking for a slight higher share in the new entity and the discussions are going on around actual shareholding,” the source said. The companies on December 22 announced that they have entered 90-day ‘exclusivity period’ for the deal that will exclude RCom’s tower and optical fibre assets for which a separate sale process is ongoing, the company said in a statement.