RCom and Aircel will hold 50% each in the new company. RCom is India's 4th-biggest telecom operator with almost 110 million customers, while Aircel ranks fifth with 84 million subscribers. Both the companies will transfer Rs 14,000 crore of debt each to the joint venture, taking the total debt of the new company to Rs 28,000 crore, excluding Rs 6,000 crore of spectrum payment liability. The deal will help RCom pare its debt by Rs 20,000 crore (or 40 per cent of the total debt on its books). It will hold 19.3% of total spectrum - highest in the sector.

Source: dna September 14, 2016 15:01 UTC