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RCOM to Merge with Sistema Shyam Teleservices

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Reliance Communications to merge with Sistema Shyam Teleservices, SSTL will get around 10% stake in combined entity. With this merger RCOM will get access to 850 MHz airwaves in 8 potential circles.

Besides the stock, RCOM won’t take on any loans from pureplay CDMA carrier’s books, a relief to investors worried about the company’s debt, which stood at Rs 38,595 crore at end of June. The company though needs to pay the roughly Rs 400 crore a year, including interest, for 10 years starting February 2016, that SSTL owes to the DoT for the spectrum won in the March 2013 auctions. Read more

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Sweekar S

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