As part of the deal, Sistema will acquire 10% stake in Reliance Communications Mumbai, Nov 2: Marking the first major acquisition in recent times, Reliance Communications (RCom) has entered into an agreement to acquire Russian conglomerate Sistema JSFC’s Indian telecom business. The acquisition will be by stock and takeover of SSTL’s spectrum in instalments of ₹392 crore a year for the next 10 years. According to sources, this pegs the deal size at about ₹4,500 crore. Under the agreement, Sistema Shyam Teleservices Ltd (SSTL), which provides telecom services under the MTS brand, will be merged with RCom. Following the acquisition, SSTL will get a 10 per cent stake in RCom. Promoter shareholding in RCom will come down to 54 per cent. Significant synergies “The combination of our wireless businesses, through the demerger of SSTL wireless business into RCom for stock consideration, will generate significant capex and opex synergies for mutual benefit,” said G
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