Reliance Communications (RCom) said on Monday that the Bombay High Court has admitted its application for merger between RCom and Sistema Shyam TeleServices Ltd (SSTL).
The court has directed RCom to convene a court-convened meeting of RCom shareholders on March 8, while the company has appointed RN Bhardwaj, Director of RCom, as Chairman of the meeting.
In September, RCom said it was in discussions with SSTL, which provides telecom services under ‘MTS’ brand, to merge the latter’s Indian operations with itself.