India: RCom-Aircel merger could help add scale, improve margins & lower costs

Reliance Communications Ltd (RCom) has had so many non-binding discussions and agreements in recent years that it’s easy to dismiss them as immaterial. Earlier this month, when the company said it had entered a non-binding agreement for the sale of its tower and optic fibre assets, one analyst said, “We’ll wait till the deal actually materializes.”