Reliance Communications has finally sealed the deal to merge its wireless business with Aircel to create a Rs. 28,000 crore venture with 195 million subscribers.
New entity will have
■ 195 m subscribers, behind Vodafone (200 m) and Airtel
■ 19.3% of total spectrum, second only to Airtel
■ Debt of ₹28,000 cr, assets worth ₹65,000 cr and a net worth of ₹35,000 cr
■ Combined revenue of ₹27,000 cr; EBITDA of ₹6,800 cr
RCom has already merged with Russian operator Sistema which will hold 10 % stake in the holding company
In November 2015, MTS and RCom had announced the merger of their operations in India. Now RCom - Aircel - MTS merged entity will be have over 180 million customers in Inda with a revenue market share of around 13-14 %
After hiving off the wireless business into the new merged entity, RCom will be left with the tower business and the enterprise business.
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