On Thursday, Reliance Communications has said that it expects to sign a binding merger deal with the founders of Aircel, to combine the wireless businesses of both the telecom companies.

Aircel has been 74% owned by Malaya’s Maxis Communications Berhad (MCB) with the rest with Sindhya Securities and investments Pvt. Ltd.

RCom and Aircel both have been discussing a deal under which promoters of both the companies will be holding 50% each in a merged entity that would be renamed and could emerge as India’s No. 3 carrier by users.

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