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Reliance In Talks With Aircel To Merge Mobile Phone Services

Reliance In Talks With Aircel To Merge Mobile Phone Services
Reuters
In this photo taken Sept. 14, 2011, a journalist twits in his mobile phone during a news conference in Caracas, Venezuela. Venezuela's political battle is playing out in a new way on Twitter, where the accounts of at least nine critics of President Hugo Chavez have been mysteriously taken over by hackers who post pro-government messages along with insults and threats.(AP Photo/Fernando Llano)
ASSOCIATED PRESS
In this photo taken Sept. 14, 2011, a journalist twits in his mobile phone during a news conference in Caracas, Venezuela. Venezuela's political battle is playing out in a new way on Twitter, where the accounts of at least nine critics of President Hugo Chavez have been mysteriously taken over by hackers who post pro-government messages along with insults and threats.(AP Photo/Fernando Llano)

MUMBAI -- Reliance Communications Ltd, India's fourth-biggest mobile phone carrier, said on Tuesday it is holding non-binding but exclusive talks for a potential merger of its wireless business with smaller rival Aircel.

Reliance Communications, controlled by billionaire Anil Ambani, has entered into a 90-day exclusivity period with Aircel's majority owner Malaysia's Maxis Communications Bhd and another shareholder Sindya Securities and Investments Pvt Ltd, Reliance said in a statement.

The potential deal will exclude Reliance Communications' tower and optical fibre assets for which a separate sale process is ongoing, the company said.

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This article exists as part of the online archive for HuffPost India, which closed in 2020. Some features are no longer enabled. If you have questions or concerns about this article, please contact indiasupport@huffpost.com.