JSA, Khaitan, CAM, Slaughter, Kirkland lead on RCom-Aircel mega merger

Anil Ambani-controlled Reliance Communications Ltd (R-Com) has signed a definitive agreement to merge its wireless business with telecom operator Aircel, marking the first move toward consolidation in the space. This merger would create India’s third largest telecom operator by users, reported Mint..J. Sagar Associates advised R-Com with a team led by Partners Sandeep Mehta, Rajesh Pal, Manav Raheja, Nitin Kala; along with Principal Associate Malav Shah; Senior Associate Aarti Iyer and Associates Prannoy Semwal, Ashrafi Ginwala and Malini Rao..Khaitan & Co acted for Aircel and the team included Partners Haigreve Khaitan, Mehul Shah and Niren Patel..Cyril Amarchand Mangaldas acted for minority shareholders of Aircel with a team led by Managing Partner Cyril Shroff and Corporate Partner Radhika Gaggar..Slaughter and May acted as international counsel for RCom while Kirkland & Ellis acted for Aircel..The Slaughter team was led by Partners Simon Nicholls and Murray Cox and Kirkland team included Gavin Gordon and Aparajita Dundhia..The combined entity will have 187.64 million subscribers, narrowing the gap with market leaders Bharti Airtel Ltd (255.7 million) and Vodafone India Ltd (199.4 million), according to Mint..Both partners will have joint 50:50 ownership of this new entity that will remain unlisted in the initial years and operate under a new brand name that is yet to be decided..The combination will be one of the country’s largest private sector companies, with an asset base of Rs 65,000 crore, reported ET.