26 February, 2016
Reliance Communications Limited in a letter to the BSE Limited and the National Stock Exchange of India Limited, has announced that the Competition Commission of India has approved the transfer of the telecommunications undertaking of Sistema Shyam Teleservices Limited to Reliance Communications Limited.
The transaction is reportedly valued at Rs. 5,000 crore (approximately $730 million), involving both a share-swap and payment towards spectrum.
For further information, please contact:
Seema Jhingan, Partner, Lex Counsel Law Offices
sjhingan@lexcounsel.in
