A merger of telecom business of Reliance Communications (RCOM) and Russia's Sistema is on the cards.
The merger between the Indian telecom business of Sistema Shyam TeleServices (SSTL) and Anil Ambani-led RCOM is likely to happen through stock swap.
"The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary," Reliance Communications said in a statement Monday.
"There is no certainty that any transaction will result," the statement added.
RCOM, a flagship company Reliance ADAG Group, has more than 118 million users on its network.
SSTL, which provides telecom services through MTS brand, has a customer base of over 10 million wireless users, Business Standard reported.
RCOM in Talks To Merge With MTS Provider Sistema Shyam
The merger between the Indian telecom business of Sistema Shyam TeleServices (SSTL) and Anil Ambani-led RCOM is likely to happen through stock swap.
"The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary," Reliance Communications said in a statement Monday.
"There is no certainty that any transaction will result," the statement added.
RCOM, a flagship company Reliance ADAG Group, has more than 118 million users on its network.
SSTL, which provides telecom services through MTS brand, has a customer base of over 10 million wireless users, Business Standard reported.
RCOM in Talks To Merge With MTS Provider Sistema Shyam
Rcom will overtake MTS or vice versa?? I'll be happy if MTS will overtake Rcom. Am waiting for MTS from last few years to start their operations in Himachal Pradesh. Earlier their license was canceled in Himachal Pradesh due to 2G scam 
lol:lol
:tup So soon MTS will be history for Indian users
