RCom-Aircel mobile biz merger called off

Telecom operators Reliance Communications and Aircel terminated their mobile business merger deal on Sunday.

“Merger of mobile business of RCom and Aircel lapses with mutual consent,” Reliance Communications said.

Both the telcos had signed binding agreements in September 2016 for the merger of RCom’s mobile businesses with Aircel.

Legal and regulatory uncertainties, and various interventions by vested interests, have caused inordinate delays in receipt of relevant approvals for the proposed transaction, he Anil Ambani-led company said.

Meanwhile, RCom was expecting a significant debt reduction post completion of merger with Aircel.