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India: Telecom department approves RCom-MTS merger

By  |  October 23, 2017

The Department of Telecom (DoT) has approved the merger of Reliance Communications (RCom) and Sistema Shyam Telecom Limited, which operates the MTS brand in nine circles in India, two sources aware of the development said.

The department, which was the final authority to give a nod to the merger, gave a go-ahead on October 20, following which operations of the Russian-backed carrier which has 4 million users, will be transferred to the Anil Ambani-owned carrier.

“The DoT issued the letter on October 20,” said one of the sources aware of the development that took place last week.

The nod brings some relief for the debt-ridden RCom after its merger deal with another telecom operator, Aircel, collapsed early this month.

Full Content: NDTV Profit

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