Reliance Communications gets SEBI nod for merger with Aircel
Anil Ambani-promoted Reliance Communications has obtained approval from markets regulator Securities and Exchange Board of India (SEBI) to spin-off and merge its wireless division with Aircel and Dishnet Wireless. The proposed merger, which is expected to create Indiaâs third-largest telecom operator by users, has also received nod from the National Stock Exchange and the Bombay Stock Exchange.