RComm gains on hopes of deal with Reliance Industries
MUMBAI (Reuters) - Reliance Communications(RLCM.NS) shares rose as much as 3.2 percent after The Economic Times reported the company was in preliminary talks with Reliance Industries for a mobile network sharing deal.
The deal could involve Reliance Infratel Ltd, a unit of Reliance Communications, leasing out capacity in some of its mobile towers to Reliance Industries(RELI.NS), the newspaper reported, citing two executives aware of the development.
Reliance Industries is planning to roll out high speed mobile data services.
Reliance Communications shares were up 2 percent as of 10:40 a.m. while shares in Reliance Industries were up 1 percent.
(Reporting by Abhishek Vishnoi and Rafael Nam; Editing by Anupama Dwivedi)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- More quakes jolt Iceland overnight, spread to second volcano
- Modi slams whispering campaign against Rajnath Singh
- Pakistan's prime minister resolved to ride out protests crisis
- India's coal crunch - a chance to revamp, reallocate and revive
COAL BLOCK ALLOCATIONS
A Supreme Court ruling this week that India's decades-old method of granting coal mining concessions is illegal could herald much-needed reforms in a sector long dogged by the inability of state-run Coal India to raise output fast enough. Read
Kleiner to invest in messaging startup Snapchat at near-$10 bln valuation - report. Full Article