Running against time to close Aircel deal, says RCom
Anil Ambani-led Reliance Communications has told National Company Law Tribunal that it's "running against time" to close the merger of its wireless business with Aircel, which will help repay its loans. RCom has sought time to convince China Development Bank to withdraw its objection to the merger. CDB had objected to the $6 billion merger even after regulators cleared it.