Reliance Communication, Sistema in talks to combine telecom business in India

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New Delhi: Anil Ambani-led Reliance Communication currently pronounced it is in talks with AFK Sistema to combine a Russian conglomerate’s Indian telecom operations by a cashless batch swap.

Representational image. ReutersRepresentational image. Reuters

Representational image. Reuters

“Reliance Communications (RCOM) and AFK Sistema have entered into disdainful discussions on a intensity partnership between a Indian telecom business of Sistema Shyam TeleServices Ltd (SSTL) and RCOM by a batch swap,” a association pronounced in a statement.

The discussions, it said, are “indicative and non-binding in nature, and sojourn theme to due diligence, decisive support and approvals, as might be necessary.”

Also, there is no certainty that any transaction will result, a matter said.