NCLT approves RCom’s-Aircel Merger
August 18th, 2017
The National Company Law Tribunal (NCLT) admitted proposals for the merger between Aircel and Reliance Communications wireless business, as well as the latter’s sale of its tower business to Canada’s Brookfield. The telecom department had also asked NCLT to direct RCom and Aircel to get permission from the Supreme Court before filing their merger plea. The Merged entities will be called as ‘Aircom’ and both will have 50% equity stake.