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RCOM, Aircel in merger talks for wireless business
Industrialist Anil Ambani-led Reliance Communications (RCOM) on Tuesday said it has initiated talks with the promoters of Aircel to combine the wireless business of the two companies, with synergies in investments and returns.
 
A pact for 90-day exclusive talks has been initiated with Aircel's majority owner, Malaysia's Maxis Communications, and Sindya Securities and Investments for the potential merger, RCOM said in a statement.
 
"The potential combination will exclude RCOM's towers and optical fibre infrastructure, for which RCOM is proceeding with an asset sale," said the statement.
 
"The discussion are non-binding in nature. Any transaction will be subject to due diligence, definitive documentation and regulatory, shareholders' and other third party approvals. Hence, there is no certainty that any transaction will result."
 
Last month, RCOM entered a major pact to acquire the Indian business of Russia's Sistema, which operates under the 'MTS' brand, in a unique stock-cum-spectrum-fee payment deal.
 
According to sources, if the deal happens, RCom-Aircel-MTS wireless combo will have over 150 million customers in India and it will hold hold close to 20 percent of the total spectrum - highest in country -- in virtually every band currently available to private players.
RCom Aircel MTS wireless combo to benefit from substantial capex and opex synergies
 
"As per the deal being negotiated, RCOM shareholders will receive free listed shares in the combined wireless entity. This apart, the debt of Rs.10,000 crore will be transferred to the separate listed combined entity," a source said.
 
"This will include the deal with MTS. Also, the monetisation of the tower and fiber assets will continue. Once these deals go through, RCOM will become debt-free."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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40 cities issue alerts for pollution in China
A total of 40 cities in north China, including Beijing and Tianjin, have issued alerts for air pollution, the air pollution emergency management headquarters here said on Tuesday.
 
Baoding, Handan, Langfang and Xingtai in the neighbouring Hebei province have also issued red alerts, Xinhua reported.
 
Beijing was hit with severe air pollution on Tuesday, with pollution levels expecting to reach grade six on a six-grade pollution gauging system, according to Beijing Municipal Environmental Monitoring Centre (BMEMC).
 
"Affected by increased humidity and temperature inversion, the density of PM2.5 (particles smaller than 2.5 micrometers used to measure air quality) may exceed 500 micrograms per cubic metre on Tuesday," according to Li Yunting, an environmental expert from BMEMC.
 
PM2.5 stood at 330 micrograms per cubic metre in Beijing as of 2.00 p.m on Tuesday, data from BMEMC showed.
 
The pollution level was predicted to decrease to grade four, still hazardous for health, on Wednesday, and the smog is expected to disperse on Thursday as a cold front arrives, said BMEMC.
 
China's port city of Tianjin and other 12 cities from provinces of Hebei, Henan and Shandong have issued orange alerts.
 
Yellow alerts and blue alerts have been issued in 17 cities and five cities respectively, according to the air pollution emergency management headquarters of Beijing.
 
China has a four-tier colour-coded weather warning system, with red representing the most severe weather, followed by orange, yellow and blue.
 
Tianjin will upgrade its orange alert to red from 0.00 a.m. on Wednesday to 6.00 a.m. Thursday, according to a government statement.
 
During the red alert, cars will be allowed on the roads depending on whether their license plate ends in an odd or even number.
 
Enterprises and public institutions will adopt flexible working hours and large outdoor activities and construction work will be suspended.
 
Kindergartens, middle schools and primary schools will also cancel classes on Wednesday. 
 
Key polluting industries will cut production as continuous cleaning operations were conducted in the city's downtown areas.
 
Heavy smog has hit the country's Beijing-Tianjin-Hebei region on three occasions since late November.
 
Low wind speed, high humidity and unfavourable wind conditions were the main causes of the smog, according to Li.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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