Anil Ambani Group To Bring All Telecom Businesses Under One Holding Co

Agencyfaqs.com: All the telecom-related ventures of the Reliance group, that are now part of the newly-formed Anil Dhirubhai Ambani Enterprises (ADAE) group, will be brought under Reliance Communications Ventures (RCVL) as part of the reorganisation of the Reliance group.
RCVL is a special purpose vehicle that will ultimately be the listed entity. Speaking at a hurriedly called press conference on Wednesday evening, Anil Ambani said, “We are hoping to get the company listed before March 31, ’06.” The demerger will be a 90-120 day process as the scheme will first have to be filed with the courts, then the shareholders need to approve the scheme at an extraordinary general meeting.
RCVL will be the holding company for the four Reliance telecom companies including the CDMA-based cellular service provider Reliance Infocomm (RIC), Reliance Communications Infrastructure (RCIL) which owns some telecom infrastructure, US-based undersea cable company Flag Telecom and the GSM venture Reliance Telecom. According to Mr Ambani, RCVL will hold about 66% in three companies: RCIL, Reliance Infocomm and Flag, but the details of holdings in individual companies were not immediately available.

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