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Moneycontrol.com >> Message Board >> View Messages >> Reliance Comm
   You are here :     Moneycontrol     MMB      Stocks      Reliance Comm
To Own 34.99% of M T N (1)   06-Jul-08 03:41Tracked by (0)  
Posted by:   rvk41 on ( 06-Jul-08 03:41 )
Price : BSE: Rs 438.20 ( 12.50 % ), NSE: Rs. 436.75 ( 12.07 % )
South African telecom major MTN Group will consider to issue as much as 20% fresh equity to Anil Ambani-controlled Reliance Communications (RCom) as part of a multi-stage merger deal, reports Business Standard.

The deal will help Ambani own up to 34.99% stake in MTN to avoid a tender offer under South African rules. It will also enable one of the MTN promoters to buy stake in RCom as part of the reverse merger process.

According to sources, one of the MTN promoter families is looking at selling 9% to RCom in exchange for a similar stake in the latter.

For informations,with regards
rvk41

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News Updates on Reliance Comm

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