The company said it is in talks with shareholders of
A statement by Reliance Communication said that the objective of a potential merger would be "to mutually derive the expected substantial benefits of in-country consolidation, including opex and capex synergies and revenue enhancement," .
It also said the current talks would exclude RCom's
Discussions with RCom are currently non-binding and a transaction would be subject to due diligence, definitive documentation and regulatory, shareholders' and other third party approvals, the note further said.
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