Technoglitch
Core Member
Anil Ambani controlled Reliance Communications Ltd (RCom) and AFK Sistema have entered into exclusive discussions on a potential merger between the Indian telecom business of Sistema Shyam TeleServices Ltd. (SSTL) and RCom through a 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, RCom said in a statement to BSE.
“There is no certainty that any transaction will result,” RCom said.
On 15 May, Sistema’s owner, Russian billionaire Vladimir Yevtushenkov told Reuters he was in talks in RCom about a joint venture in India but ruled out an outright sale of the company’s Indian unit Sistema Shyam Teleservices.
RCom plans merger with Sistema Shyam - Livemint
The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary, RCom said in a statement to BSE.
“There is no certainty that any transaction will result,” RCom said.
On 15 May, Sistema’s owner, Russian billionaire Vladimir Yevtushenkov told Reuters he was in talks in RCom about a joint venture in India but ruled out an outright sale of the company’s Indian unit Sistema Shyam Teleservices.
RCom plans merger with Sistema Shyam - Livemint
