RCom calls off merger with Aircel due to ‘regulatory’ hurdles


New Delhi: Reliance Communications, which is reeling under a debt of about Rs 46,000 crore, on Sunday called off merger talks with Aircel, citing “legal and regulatory” delays and outlined an alternative plan for debt reduction by selling real estate as well as tower and fibre business.

“Merger of mobile business of RCom and Aircel lapses with mutual consent,” the Anil Ambani-led firm said in a statement.

RCom and Aircel had signed binding agreements in September 2016 for the merger of mobile business.