Reliance Communications and MTN deal, which knocked the headlines in July, and subsequently collapsed due to Ambani’s bitter dispute, may soon be renewed.
Says Wireless Federation - A Wireless Industry Research Conglomerate - quoting media reports that the story has a twist this time, as the roles are reversed.
Earlier, Rcom was seeking at a reverse merger to buy MTN, this time the offer is for a straight deal with MTN buying a minority stake in RCom. Rcom is seeking to raise $2 billion by offloading around 26% stake in the company, which will be a mix of non-promoter stake and fresh issue.
AT&T which plans to re-enter the Indian Telecom Market is also chasing, since it is not interested in investing in Unitech. The company’s move to sell stake to a strategic partner comes after talks with a host of private equity players did not make any headway.
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