Reliance Communication had received the final approval on its merger with Sistema from the Department of Telecommunication (DoT).
This merger will also extend validity of RCom’s spectrum portfolio in the highly valued 800 and 850 MHz band in eight major telecom circles across the country – Delhi, Gujarat, Tamil Nadu, Karnataka, Kerala, Kolkata, UP-West and West Bengal – by a period of 12 years from 2021 to 2033. This specific spectrum is best suited for delivering 4G LTE services.
Important Takeaways from Above News for RRB PO Mains Exam-
- The closure of merger transaction will be completed in November 2017. However, RCom will carry on SSTL business in India under MTS brand.
- The merger between Reliance Communication and Sistema Shyam Teleservices Ltd. was announced in 2015.
- Anil Dhirubhai Ambani is the Chairman of Reliance Group.
Source- The Economic Times