Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

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The sun rises behind a communications tower in New Delhi March 20, 2006. REUTERS/B Mathur/Files

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Credit: Reuters/B Mathur/Files

MUMBAI | Tue Jan 22, 2013 10:41am IST

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)
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