RCom may Complete 3 Deals by Mid ’17
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.