Reliance Communications falls after rival Bharti Infratel's pact

Mar 05 2014, 12:32 IST
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Shares of Reliance Communications fall 1.7 percent after a unit of rival Bharti Airtel, Bharti Infratel, entered into a tower sharing pact with Reliance Industries. (Reuters) Shares of Reliance Communications fall 1.7 percent after a unit of rival Bharti Airtel, Bharti Infratel, entered into a tower sharing pact with Reliance Industries. (Reuters)
SummaryReliance Jio Infocomm signed a deal worth 12 billion rupees ($221 million) in June 2013 to share Reliance Communications fibre optic network for 4G services.

Shares of Reliance Communications fall 1.7 percent after a unit of rival Bharti Airtel, Bharti Infratel, entered into a tower sharing pact with Reliance Industries. The deal with Bharti reduces the prospect that Reliance Communications and Reliance Jio Infocomm, the telecoms unit of Reliance Industries, will expand their tower sharing deal from last year. Reliance Jio Infocomm signed a deal worth 12 billion rupees ($221 million) in June 2013 to share Reliance Communications fibre optic network for 4G services.

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