RCOM gets CCI approval for Aircel wireless biz demerger

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RCOM gets CCI approval for Aircel wireless biz demerger
Reliance Communications (RCOM) has received an approval of the Competition Commission of India (CCI) for the proposed scheme of arrangement for demerger of the wireless division of the company into Aircel and Dishnet Wireless.

The company has already received approval from Sebi, BSE and NSE for the proposed scheme of arrangement, and filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said scheme, a release said.

The proposed transaction is subject to other necessary approvals. Post closing, the company and the present shareholders of Aircel will hold 50% each in Aircel, the release added.

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