RCOM and MTN -
RCOM and MTN are pursuing discussions to strike a complex deal which, if consummated, will result in Anil Ambani emerging as the single-largest shareholder of the South African telecom major while his RCOM will become a subsidiary of MTN. Both the companies had signed a 45-day exclusive discussion agreement on May 26.
If RCOM’s reverse merger with MTN goes through, it will create a telecom colossus with 115 million subscribers across 23 countries in Asia, South Africa and the Middle East. Anil Ambani is expected to hold nearly one-third equity in MTN and he is likely to the chairman of the company.
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