NCLT Gives a Go Ahead for the Proposed RCom-Aircel Merger
As promised, the National Company Law Tribunal (NCLT), on Monday approved the proposed merger of RCom and Aircel's wireless business. The regulator even approved the Reliance Communications sale of its tower business to Brookfield for Rs. 11,000 crore. Right after NCLT approving the merger, RCom' shares increased by 19% and ended 16.1% higher on Monday at Rs. 24 per share on Bombay Stock Exchange. Recently, it was reported that Aircel... Read More