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
- India to allow Nokia to transfer Chennai factory to Microsoft
- UPDATE 1-American Airlines orders 60 Embraer jets worth $2.5 bln
- Russia makes new attempt to woo Ukraine, EU waits in wings
- IIP slumps 1.8 pct, shrinks for first time in four months
- SPECIAL REPORT - In the land of the holy cow, fury over beef exports
India's battle with inflation and weak economic growth became more challenging on Thursday with a sharp spike in the cost of food driving the highest retail price rises on record and a worse-than-anticipated contraction in industrial production. Full Article
Amount of dirty money leaving developing world jumped 14 pct in 2011 - report. Full Article