Reliance Communications To Join Hands With Aircel To Become Nation's Third Biggest Telecom Network newsreporter.in

Reliance Communications To Join Hands With Aircel To Become Nations Third Biggest Telecom Network

India's Reliance Communications Ltd is to combine its wireless business with smaller rival Aircel to create the nation's third-biggest mobile phone network operator in terms of subscribers, as intensifying competition pushes consolidation in the world's second-biggest market.

Reliance Communications, controlled by billionaire Anil Ambani, and Aircel's parent Malaysia's Maxis Communications Bhd will each own 50 percent of the merged carrier, the two sides said in a joint statement on Wednesday.

2016-09-15 10:20:59 by Sharon

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