RComm up on reports of stake sale in tower unit

MUMBAI Fri Jan 25, 2013 3:49pm IST

1 of 2. A construction supervisor speaks on a mobile phone amid rolls of underground telephone cable pipes on the outskirts of the southern Indian city of Hyderabad November 29, 2010.

Credit: Reuters/Krishnendu Halder/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Shares in Reliance Communications Ltd (RLCM.NS) ended 7.62 percent higher at 86.10 rupees after The Economic Times newspaper reported the company was in talks to sell a stake in its mobile tower unit to Reliance Industries Ltd (RELI.NS).

The stock nearly recovered most of its Thursday's losses of 9.14 percent, sparked by a sharper-than-expected fall in its October-December quarter.

The Economic Times reported Reliance Communications was in talks over a stake sale in Reliance Infratel to a unit of Reliance Industries, as well as leasing arrangement for mobile towers, citing two people close to the negotiations.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

Reuters Showcase

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Currency Market

Currency Market

RBI urges companies to hedge FX exposure  Full Article 

Uber's Woes

Uber's Woes

Uber, other taxi-hailing apps hit new roadblock in Delhi.  Full Article 

Reuters India Mobile

Reuters India Mobile

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