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
19 April, 2018 18:52 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
Prism Cement is now Prism Johnson - 19-Apr-2018 15:51
NACL Ind enters into strategic alliance with BioWorks - 19-Apr-2018 15:25
Ramco Systems partners with L3 MAS - 19-Apr-2018 15:21
MCX inks pact with Northern India Textiles Mills' Association - 19-Apr-2018 15:16
BP and Reliance sanction second phase of integrated KG D6 development - 19-Apr-2018 13:45
IndusInd Bank Q4 profit grows 27% to Rs 9.53 bn - 19-Apr-2018 13:40
Domestic natural gas prices hiked by 6% for April-September 2018: Ind-Ra - 19-Apr-2018 12:19
Reliance Infra wins EPC contract worth Rs 7.74 bn - 19-Apr-2018 12:07
WABAG secures Rs 2.53 bn order under Namami Gange scheme - 19-Apr-2018 11:39
UltraTech Cement commissions new plant in Madhya Pradesh - 19-Apr-2018 11:33
Vascon Engineers receives work order worth Rs 1.19 bn - 19-Apr-2018 11:27
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