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Monday, November 02, 2015

Reliance Communications And Sistema To Merge In All Stock Deal

By on Monday, November 02, 2015

 
FILE PHOTO
 
Billionaire businessman Anil Ambani led Reliance Communications told it will take over Russian Telecom Group Sistema that runs Indian mobile entrepreneur under MTS brand.
The Sistema Shyam Teleservices (SSTL) after this stock deal will have share 10% in R-COM.
In addition to this, R-COM will take the responsibility of instalments payment to the government for the SSTL spectrum; and Rs 392 crore in next 10 years is going to pay.

Company said in a statement, " R-COM will take over 90 lacs customers and will earn yearly income Rs 1500 crore because of this deal."
The R-COM will acquire the precious 800-850 megahertz bank spectrum which is useful for LTE services and will be complement to its own national wide operations. 

The R-COM will extend the validity in 800-850 megahertz band since 2021 to 2033 during 12 years in 8 important circles (Delhi, Gujrat, Tamilnadu, Karnatak, Keral, Kolkota, Uttar Pradesh west and West Bengal).

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