RCom receives approval to buy Sistema Shyam Teleservices

Reliance Communications (RCom) has received a nod from the stock exchanges to acquire Sistema Shyam Teleservices Ltd (SSTL), which operates under the MTS brand in the country.

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The Anil Ambani-led telecom service provider, in a BSE filing said, “We wish to inform you that we have received observation letters from BSE and NSE.”

The company along with SSTL will now file necessary applications with the Bombay High Court and Rajasthan High Court, respectively, for approval of the scheme. After the approval from the courts, the telecom service provider will approach the Indian telecom department for rearrangement of licences.

RCom had announced acquisition of Sistema’s Indian telecom unit in an all-stock deal in November last year. After the merger, Sistema Shyam Teleservices will hold a 10% equity stake in RCom, which will assume the liability to pay the government installments for SSTL’s spectrum.

RCom recently said that it entered into merger talks to acquire domestic wireless business of Aircel, which is the country’s fifth largest mobile carrier with pan-India operations. RCom had then said that the discussions were “non-binding” in nature, and will exclude RCom’s towers and optical fibre infrastructure.

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17 Comments on "RCom receives approval to buy Sistema Shyam Teleservices"

 

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[…] to go debt-free in 2017. For the purpose, the company had signed a definitive agreement to buy Sistema Shyam Teleservices Ltd (SSTL) in a deal valued at Rs. 4500 crores. The deal enabled SSTL to gain 10% stake in RCom of Rs. […]

Abhishek
January 15, 2016 7:52 pm 7:52 PM

The guy working in reliance store told they won’t shutdown cdma services in Karnataka.

MADHAN KUMAR
January 15, 2016 10:44 pm 10:44 PM

Thanks a lot for the update!

MADHAN KUMAR
January 15, 2016 5:23 pm 5:23 PM

Whatever RCOM does I just hope so that they won’t shut down their RCDMA SERVICES in T.N,K.A & K.E circles anytime soon!

Abhishek
January 15, 2016 7:02 pm 7:02 PM

Yesterday I purchased a rcdma sim and when I told him it’s for data card he activated my number within 15 minutes.

Jyotirmoy Manna
January 16, 2016 9:37 am 9:37 AM

But did not he asked which datacard will you use?

Abhishek
January 16, 2016 1:34 pm 1:34 PM

he did but I just told its an unlocked one.

Jyotirmoy Manna
January 16, 2016 6:57 pm 6:57 PM

In my case they refused to support after hearing the answer. Yu are lucky .

MADHAN KUMAR
January 16, 2016 9:40 pm 9:40 PM

@Jyotirmoy:Even in my Hosur I said them that I am gonna use in unlocked EC315 wi-fi dongle they responded and they are the one who activated me RCDMA sim as I didn’t hav a CDMA handset!

MADHAN KUMAR
January 15, 2016 7:40 pm 7:40 PM

@Abhishek: Gud to know!

jiolover2
January 15, 2016 6:11 pm 6:11 PM

they have plan to shut down services cdma in were they have gsm 3g license rcom already stopped 2year ARP plan in cdma no new customer can buy ARP plans in cdma

Krish
January 15, 2016 7:41 pm 7:41 PM

Rcow is shadow of rjio in 2016 :p

MADHAN KUMAR
January 15, 2016 7:39 pm 7:39 PM

@Jiolover2: Then I think T.N will escape as it doesn’t hav a 3G license.

Colorado
January 15, 2016 5:31 pm 5:31 PM

You seem to be having sleepless nights over that, bro! 😀

MADHAN KUMAR
January 15, 2016 7:46 pm 7:46 PM

@colorado: Lolz yes you are r8,I think RJIO would offer cheap data services only for max 2yrs where Rcdma’s plans would mostly be maintained in the same price point even after say for more than 3 yrs if incase they exist hence I am mad about Rcdma services.

Jyotirmoy Manna
January 16, 2016 9:33 am 9:33 AM

I also wish the same thing for Kolkata.

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