Telenor seeks merger with Aircel, RCOM

Norway-based Telenor Group has approached Aircel and Reliance Communications (RCOM) to explore a merger possibility through a share swap. Telenor has reportedly expressed its willingness to combine its business, customer base and spectrum with the merged Aircel-RCOM entity. Upon completion of the proposed merger, Telenor will own 10 per cent in the three-way alliance and Maxis Communications (Aircel’s promoter) and RCOM will own a 45 per cent stake each.