Reliance Communications gains on stake buy reports
Reuters: Mumbai, Jan 25 2013, 09:46 IST
Shares in Reliance Communications Ltd gained on Friday after a report that the company was in talks to sell a stake in its mobile tower unit to Reliance Industries Ltd.
A report said the deal could involve Reliance Industries' unit Reliance Infotel buying a stake in Reliance Communications' unit Reliance Infratel, citing two people close to the negotiations.
It also said talks involved a leasing arrangement between the two units.
Reliance Communications shares had slumped 9.14 percent on Thursday after posting a sharper-than-expected fall in its October-December quarter.
Shares in Reliance Communications were up 2.9 percent as of 0403 GMT. Reliance Industries shares were down 0.8 percent.
Stocks More on Reliance Communications
Company INFO More on Reliance Communications
Previous Story Boeing 787 battery shows short-circuiting: US Next Story Sri Lanka to ban women from being maids abroad: minister
Reader's Comments| Post a Comment
Be the first to comment.
