Reliance Communications (RCom) on Monday said fair trade regulator CCI has given a nod to its deal to acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices that operates under the MTS brand.

"We wish to inform you that the Competition Commission of India (CCI) has approved the transfer of telecommunications undertaking of Sistema Shyam Teleservices Ltd (SSTL) to the company," Reliance Communications said in a BSE filing.

New Delhi: Reliance Communications Ltd’s (R-Com’s) plan to combine its wireless business with smaller rival Aircel Ltd to create a new entity is unlikely to be concluded within the 90 days that the telcos gave themselves to finalize the merger, company officials and analysts said

The merger is subject to the condition that the two parties each reduce their debt to less than Rs.10,000 crore. That condition is unlikely to be met unless R-Com manages to sell its tower assets and Aircel sells some of its spectrum.

The proposed merger between Reliance Communications and Sistema Shyam TeleServices India appears to be on track. The Bombay High Court has admitted the application for Scheme of Arrangement between RCom and SSTL. The Court has directed RCom to convene a Court-Convened Meeting of Reliance Communications' shareholders on Tuesday, 8 March 2016 at 11 am at REMI. Director of Reliance Communications, R N Bhardwaj, has been appointed as Chairman of the said meeting. RCom is, therefore, finalising a notice of the above meeting to be sent to its shareholders and taking necessary action in the matter.

The country’s fourth largest mobile operator by subscribers and revenues, the Anil Ambani-led Reliance Communications on Friday said its net profit during the October-December period stood at Rs 171 crore, up 9.6% compared to the preceding quarter, helped by an uptick in subscription and usage for its high margin internet-services, and a better performance at its global operations.

NEW DELHI: Anil Ambani-owned Reliance Communications (RCom) Wednesday said it has paid Rs 5383.84 crore as a liberalization fee to the telecom department.

"We have paid liberalization fee in relation to spectrum in the 800 and 850 MHz band held in 16 telecom circles," the telco informed the National Stock Exchange (NSE) in a statement.

Mumbai: Mukesh Ambani-controlled telecom unit Reliance Jio Infocomm Ltd (R-Jio) and Anil Ambani-led Reliance Communications Ltd (R-Com) on Monday signed so-called Agreements for Change for spectrum allotment in the 800 MHz band across nine circles from R-Com to R-Jio, and for spectrum sharing in the 800 MHz band across 17 circles.

As part of the enhanced strategic collaboration, both companies also intend to enter into reciprocal Intra Circle Roaming (ICR) arrangements, the companies said in a joint statement.

Reliance Communications (RCom) today said stock exchanges BSE and NSE gave their go-ahead to its deal to acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices Ltd (SSTL).

"We wish to inform you that we have received observation letter from BSE Ltd and National Stock Exchange of India Ltd (NSE)," Reliance Communications said in a BSE filing.

The Department of Telecommunications (DoT) has raised a demand of Rs 5,384 crore from Reliance Communications liberalising its 800 Mhz spectrum in 16 circles, which it plans to share with Mukesh Ambani’s Reliance Jio.

Also, a one-time fees for spectrum usage charges of Rs 1,596 crore has been raised, according to sources.

The three-way merger between Reliance Communications (RCom), Aircel and MTS (brand of Sistema Shyam) is on course to create a formidable company, with best-in-class spectrum and reasonably strong financials.

Even as the entities have written to the Competition Commission of India (CCI) for approval, both RCom and Aircel are working on lowering their debt, which they have agreed to cap in the new entity at Rs 20,000 crore. Sistema Shyam has agreed to settle its liabilities ahead of the merger with RCom.

Reliance Communications (RCOM) has entered into discussions with promoters of Aircel for a possible merger, after over a month of announcement of a similar deal with MTS, Indian unit of Russia's Sistema Group.

RCom has entered into a 90-day exclusivity period with Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited, who are the shareholders of Aircel Ltd.

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