22/12/2015 2:33 PM IST | Updated 29/08/2016 9:00 PM IST

Reliance In Talks With Aircel To Merge Mobile Phone Services

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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