Formally throwing its hat in the Reliance Communications said it was looking to acquire its rival Hutch-Essar and has received funding support for the proposed deal.
RCom Chairman Anil Ambani said his company had received strong financial supp
ort from leading bankers all over the world.
"This I believe is a strong endorsement in our company and in India's telecom growth," he said, adding that "there is no certainty on the Hutch-Essar proposal on when and how it will be completed."