RCom shareholders okay demerger of optic fibre businessMay 26th, 2009 - 6:20 pm ICT by IANS
Mumbai, May 26 (IANS) Reliance Communications (RCom), India’s second largest telecom operator, Tuesday said it has received approval from its shareholders for the demerger of its optic fibre division and subsequent merger with wholly-owned subsidiary Reliance Infratel.
“The demerger will help reduce set-up and operating costs resulting in cost efficiency coupled with greater financial flexibility,” the company said in a regulatory statement.
Moreover, the segregation of business into providing telecommunications services and infrastructure will enable both the companies to concentrate on their core businesses, the statement added.
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Tags: core businesses, cost efficiency, fibre division, financial flexibility, India, infrastructure, merger, rcom, reliance, segregation, shareholders, subsidiary, telecom operator, telecommunications services