Reliance Communications (RCom) on Tuesday said its shareholders have approved the proposal for merger of Sistema Shyam Teleser-vices with the company.
Reliance Communications (RCom) on Tuesday said its shareholders have approved the proposal for merger of Sistema Shyam Teleser-vices with the company.
“The Court Convened meeting of the members of the Company held on March 8, 2016 to consider and approve Scheme of Arrangement of Sist-ema Shyam TeleServices Limited with the Company (Scheme), the Members of the Com-pany have duly approved the Scheme, voting by way of poll at the meeting and through e-voting,” RCom said in a BSE filing.
The RCom-SSTL merger deal has been cleared by Competition Commis-sion of India, Rajasthan High Court, Bombay High Court and SEBI.
On March 18, shareholders of SSTL are scheduled meet to decide on the deal. After clearance from SSTL shareholder, RCom will approach the department of telecom for the final paperwork.
