Reliance Communications in merger talks with Sistema Shyam
.jpg)
Reliance Communications (RCOM) and AFK Sistema have entered into exclusive discussions on a potential merger between the Indian telecom business of Sistema Shyam TeleServices and Reliance Communications through a stock swap.
The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary. There is no certainty that any transaction will result, said RCom in a statement.
Reliance Communications is the flagship company of the Reliance ADAG Group. which has a customer base of over 118 million.
Sistema Shyam TeleServices Ltd. (SSTL) is a venture, involving equity participation by Sistema Joint Stock Financial Corporation of Russia, the Russian Federation and the Shyam Group of India. Sistema JSFC is the majority shareholder in the Company. With a strong focus on its “Data Centric; Voice Enabled” strategy, SSTL is one of the top three data service providers in the country.
The Company provides telecom services under the brand MTS to over 10 million wireless subscribers including more than 1million High Speed Mobile Broadband customers in over 450 towns across the country.
Other Latest News
.webp)
One person was killed and at least six were injured in a blast at an explosives manufacturing factory in Chhattisgarh's Bemetara district on Saturday, officials said.
The explosion occurred in the unit located near Pirda village in Berla development block, a district administration official said.
.webp)
Pakistan-occupied Kashmir (PoK) is a part of India and "we will take it", Home Minister Amit Shah asserted on Saturday as he castigated the Congress for trying to "frighten us" by saying that the neighbouring country possesses atom bombs.
"The Pakistan-occupied Kashmir (PoK) hamara hai, hamara rahega aur hum ise lekar rahenge (PoK is ours and it will remain ours. We will take it," Shah told a rally at Amb in Una district in support of Union minister Anurag Thakur, the BJP candidate from the Hamirpur Lok Sabha seat.
.webp)
PDP president Mehbooba Mufti on Saturday claimed that outgoing calls on her mobile number have been suspended without any explanation.
"I am not able to make any calls since morning. There is no explanation for this sudden suspension of services on the day of polling in the Anantnag Lok Sabha constituency," Mehbooba told PTI.
.webp)
As the sixth and penultimate phase of polling for the Lok Sabha elections got underway at 7 am on Saturday, Prime Minister Narendra Modi urged voters to come out in large numbers and exercise their franchise.
In a post on X, the Prime Minister said "I urge all those who are voting in the 6th phase of the 2024 Lok Sabha elections to vote in large numbers. Every vote counts, make yours count too! Democracy thrives when its people are engaged and active in the electoral process. I especially urge women voters and youth voters to vote in large numbers."
.webp)
Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly $200 billion, according to people familiar with the matter.
SpaceX is discussing a tender offer — a transaction that enables employees and insiders like investors to sell shares — that may kick off in June, said some of the people, who asked not to be identified because the information is confidential.
.webp)
.webp)
.webp)
.webp)
.webp)
