MUMBAI: Reliance Communications ( Rcom ) has called off its merger with Aircel . "Merger agreements with Aircel allowed to lapse by mutual consent," said the statement released by the Anil Ambani company. The reason given was "Inordinate delays caused by legal and regulatory uncertainties, various interventions by vested interests, policy directives impacting bank financing for telecom and changed industry dynamics," said the telco in its statement Sunday. The merger with Aircel and its tower sale to Brookfield was expected to bring down the company's debt by 60%. The statement added that Rcom will evaluate alternative plans for its mobile business through optimisation of its spectrum portfolio and 4G focussed strategy. The Ambani-owned company said that it expects monetisation of tower and fibre assets along with real estate along with optimisation of spectrum assets to generate proceeds of Rs 25,000 crore in debt reduction. Its s...