Anil Ambani's Reliance Communication merges with Aircel

Ambani after Ambani: After Mukesh launches Jio, Anil’s R-Com merges mobile business with Aircel

Anil Ambani-led Reliance Communication today agreed to merges its wireless telecom business with small smaller rival Aircel to create the country's 4th-biggest
mobile phone operator with asset base of more than Rs 65,000 crore.

Reliance entered into merger talks with Aircel shareholders Maxis Communications and Sindya Securities and Investments late last year.

"RCOM and Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited (Sindya), the shareholders of Aircel Limited ("Aircel"), expect
to sign binding definitive documentation and announce the proposed transaction for the combination of the Indian wireless business of RCOM and Aircel very shortly,
" the Anil Ambani-owned carrier said Thursday.the company said in a BSE filing.

It said however that any transaction will be subject to regulatory, shareholders' and other third party approvals. "Hence, there is no certainty that any
transaction will result."

Earlier last month, the company and Aircel had decided to extend by 30 days the discussion period for their possible merger.
This was for the second time the companies had extended the discussion period for the merger. The telcos previously on March 22 had extended the merger talks by
60 days.

Bhuvan Arora