Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
29 March, 2017 22:43 IST
RCom gets CCI's nod for proposed demerger of wireless biz
Source: IRIS | 20 Mar, 2017, 10.50AM
Comments  |  Post Comment

Anil Ambani led Reliance Communications (RCom), one of the leading telecom operators in India, has received an approval of the Competition Commission of India (CCI) for the proposed Scheme of Arrangement for demerger of the Wireless division of the company into Aircel and Dishnet Wireless (the scheme).

The company has already received approval from the Securities and Exchange Board of India (SEBI), BSE and National Stock Exchange of India (NSE) for the proposed Scheme of Arrangement and filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme.

The proposed transaction is subject to other necessary approvals.Post closing, the Company and the present shareholders of Aircel will hold 50% each in Aircel.

Shares of the company gained Rs 0.25, or 0.65%, to trade at Rs 38.50. The total volume of shares traded was 2,382,104 at the BSE (10.41 a.m., Monday).



Reliance Communications Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Sector
Siemens, Sumitomo Electric win USD 520 mn order for HVDC link - 29-Mar-2017 14:53
Rajesh Exports bags overseas order worth Rs 8.87 bn - 29-Mar-2017 14:02
Kalpataru Power receives new orders worth Rs 12 bn - 29-Mar-2017 13:12
Ashoka Buildcon receives financing documents approval for Kharar-Ludhiana project - 29-Mar-2017 13:04
Lupin launches generic Epzicom tablets in US - 29-Mar-2017 12:55
Power Grid acquires Medinipur-Jeerat Transmission - 29-Mar-2017 12:52
IndusInd Bank extends pact with Lohia Industries - 29-Mar-2017 12:47
Loyal Equipments bags order worth Rs 10.1 mn - 29-Mar-2017 11:43
Crude oil price of Indian basket rises 1% - 29-Mar-2017 11:06
OM Metals gains on bagging contract worth Rs 135 mn - 29-Mar-2017 10:59
Bharti Airtel concludes tower arm stake sale Nettle Infra - 29-Mar-2017 10:54
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer