RCom may Com­plete 3 Deals by Mid ’17

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

Mum­bai: Re­liance Com­mu­ni­ca­tion (RCom) ex­pects to com­plete three pro­posed deals, in­clud­ing a merger with Air­cel, by the mid­dle of 2017.

The Anil Am­bani-led tele­com com­pany agreed to sell a 51% stake in Re­liance In­fratel, the com­pany’s tower unit, to Canada’s Brook­field Group for .₹ 11,000 crore. The sale of the tower unit and a plan by RCom and Air­cel to merge their wire- less busi­nesses are ex­pected to be com­pleted by mid-2017. A merger with Sis­tema Shyam Te­le­ser­vices is likely to close by the end of March.

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