RCom acquires SSTL as Indian consolidation kicks off As expected, Reliance Communications has kicked off Indian consolidation by agreeing to take control of CDMA operator SSTL, and that may lead to a second-stage deal to acquire Aircel. Under the terms of the $690m deal, a share swap will see SSTL becoming part of RCom, while the former’s Russian parent firm, Sistema, will take a 10% stake in RCom. In addition, RCom will assume SSTL’s spectrum licence fee obligations, which total INR3.92bn (€54m) a year for the next 10 years. “The combination of our wireless businesses… will generate significant capex and opex synergies for mutual benefit,” said Gurdeep Singh, CEO of RCom’s consumer business, in a statement. He also pointed to…