REFILE-Reliance Comm gains on media report of stake sale

Fri Jan 25, 2013 9:50am IST

Related Topics

Stocks

   

(Corrects headline, Reliance gains on media report of sale deal)

MUMBAI Jan 25 (Reuters) - Shares in Reliance Communications Ltd gained on Friday after The Economic Times newspaper reported the company was in talks to sell a stake in its mobile tower unit to Reliance Industries Ltd.

The Economic Times reported 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.

The newspaper also reported 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.

(Reporting by Manoj Dharra; Editing by Michael Perry)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Trade Deal

REUTERS SHOWCASE

Record High

Record High

Nifty hits record high on foreign buying, higher Asian stocks.  Full Article 

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

BRICS Bank

BRICS Bank

World Bank chief welcomes new BRICS development bank.  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage