FZO Chart, page-103

In October last year there was a proposed merger between Reliance and Aircel, which was called off due to legal and regulatory hurdles.

Recent media speculation indicates that Aircel could join Vodafone-Idea (who have 410 million mobile wireless telecom subscribers), creating an entity with 500 million subscribers.

Bharti Airtel is the other option that Aircel could join. Bharti used to be the number one Telco in India, with 290 million subscribers, and would not want to fall 210 million subscribers behind a combined Vodafone-Idea-Aircel entity.

Either way, Aircel has become a prized asset, and we may eventually be an indirect benefiary of these games.

https://www.moneycontrol.com/news/t...n-talks-with-aircel-sunil-mittal-2449713.html