RCom, Aircel seek shareholders’ approval as merger - Hallo friend CHOOSE HEALTHY, In the article you read this time with the title RCom, Aircel seek shareholders’ approval as merger, we have prepared well for this article you read and download the information therein. hopefully fill posts items ALTERNATIVE MEDICINE, items COMMERCIAL, items GENERIC, items HEALTH, items HEALTHY RECIPES, we write this you can understand. Well, happy reading.

Title : RCom, Aircel seek shareholders’ approval as merger
link : RCom, Aircel seek shareholders’ approval as merger

RCom, Aircel seek shareholders’ approval as merger

The mega merger between Reliance Communications (RCom) and Aircel to create the country’s third-largest operator is entering the final phase, with both companies seeking shareholders' approval in the coming days.

Aircel will hold its shareholders’ meeting on April 22, while that of RCom will be on April 24.,2017

The meetings have been convened following a direction by the National Company Law Tribunal (NCLT), according to the notices posted on the companies’ websites.

Following the shareholder meetings, NCLT will hear the merger application filed by the companies on April 24 itself. Shareholder and NCLT approvals are the statutory requirements for the merger.

In March, the companies received Competition Commission of India’s approvals for the merger, prior to which approvals the companies had got permission from capital markets regulator SEBI, and the BSE and NSE.

The merger was announced in September 2016, under which RCom and Aircel’s Malaysia-based promoters Maxis Communications Bhd will hold 50 per cent each in a newly-created venture, with equal representation on the board.

The merger would help both players pare debt by  Rs 14,000 crore each, which will be transferred to the new entity. 

At present, RCom’s debt stands at  Rs 42,000 crore, while that of Aircel is at about  Rs 18,500 crore.

thus Article RCom, Aircel seek shareholders’ approval as merger

that is all articles RCom, Aircel seek shareholders’ approval as mergerThis time, hopefully can provide benefits to all of you. Okay, see you in another article posting .

You now read the article RCom, Aircel seek shareholders’ approval as merger with the link address https://choosehealthys.blogspot.com/2017/04/rcom-aircel-seek-shareholders-approval.html

Tweet

Subscribe to receive free email updates: