RCom-Aircel Merger: The Real Story Is Promoter Fatigue & Pathway To Exit
The original article written by R Jagannathan, Editorial Director, Swarajya and can be found here.
The big headline in business papers today – that Reliance Communications (RCom) and Aircel will merge to create a 50:50 joint venture between Anil Ambani and Maxis Communications of Malaysia – is not the real one. The real headline should read: “RCom-Aircel merger prepares ground for one partner to exit at the appropriate time.” It could, of course, be both partners exiting in favour of a more moneyed giant. It is a case of promoter fatigue.