RCom to Discuss Aircel Merger on Aug 12
Mumbai: Reliance Communications (RCom) on Wednesday said its board will meet on August 12 to review matters regarding the proposed merger with Aircel and look into conversion of debt to equity shares, if and when needed.
In a filing to BSE, the company stated ‘the board will consider, review and approve matters relating to scheme of arrangement between the company and Aircel Ltd submitted to NCLT’. The board will also look into other deleveraging measures undertaken/to be undertaken by the company during the AGM this Saturday. The shareholders approval will be taken if there is any consideration of conversion of bond to equity shares if and when needed for issue of NCDs /other debt securities and update all on the ongoing debt restructuring.
Rcom shares closed at ₹ 22.30 down by 2.62% on BSE on Wednesday.