Reliance Communications, Aircel Announce Merger Deal To Create 3rd Largest Telecom Operator

Billionaire Anil Ambani's Reliance Communications (RCom) on Wednesday announced a merger of its wireless telecom businesses with Aircel, which will create India's third biggest telecom operator in terms of subscriber base. RCom will own half of the merged the entity, while Aircel's parent, Malaysia's Maxis Communications, will own the other half. The merger comes days after Mr Ambani's older brother and India'a richest man Mukesh Am...