Reliance Communications merges with Aircel

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In the biggest consolidation deal in India’s telecom sector, Reliance Communications and Aircel on Wednesday announced the merger of their wireless operations to create a combined entity with assets worth Rs 65,000 crore. Reliance Communications and Aircel will hold 50% stake each in the new combined entity, which will be listed later. Reliance Communications will demerge its wireless business and merge it with Aircel.

Source: The Hindu

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