RCOM enters into merger talks with AFK Sistema
"The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary. There is no certainty that any transaction will result," read a statement issued by Reliance Communications.
Reliance Communications Limited founded by late Dhirubhai H Ambani is the flagship company of the Reliance Group.
The Reliance Group had a net worth in excess of Rs. 91,500 crore (US$ 15.3 billion), cash flows of Rs. 10,200 crore (US$ 1.7 billion), net profit of Rs. 4,700 crore (US$ 0.8 billion).
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