Reliance Communications & AFK Sistema discuss potential merger

Of Indian telecom business of Sistema Shyam TeleServices and RCom through stock swap

Reliance Communications announced that the Company and AFK Sistema have entered into exclusive discussions on a potential merger between the Indian telecom business of Sistema Shyam TeleServices (SSTL) and RCOM through a stock swap. The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary. There is no certainty that any transaction will result.

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