India: Reliance Communications-Aircel – a merger of equals?

An Aircel store is photographed from the outside. Photo: Livemint

Reliance Communications Ltd (R-Com) and Aircel Ltd are likely to complete the merger of their wireless operations by the end of the month, a top Reliance Group official said last week. Investors are losing patience. The two companies had begun discussions about six months ago, and R-Com shares have fallen by 45% since then.

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