Reliance Communications gets green nod for demerger from the CCI
DSIJ Intelligence / 20 Mar 2017
Reliance communications has got green nod from the Competition Commission of India for the proposed merger with Aircel.
Reliance communications has got green nod from the Competition Commission of India for the proposed merger with Aircel.
RCom has received an approval of the CCI for the proposed scheme of arrangement for demerger of the Wireless division of the company into Aircel and Dishnet Wireless.
RCom has already received approval from the Securities and Exchange Board of India (SEBI), BSE and National Stock Exchange of India (NSE) for the proposed scheme of arrangement. Simultaneously, it has filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval.
Post demerger, RCom and the present shareholders of Aircel will hold 50 per cent each in Aircel. The share price of the company increased 3.79 per cent in an early trade and is trading at Rs 37.09 on intraday basis.
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