- India gripes over border, trade woes on Li's trip
- Winning ticket for $590.5 million Powerball lottery sold in Florida
- HSBC cuts gold, silver price forecasts for 2013, 2014
- EXCLUSIVE - Bangladesh factory banned by Wal-Mart still makes Wrangler shirts
- Weakened Congress wondering if early elections will help
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
RComm up on reports of stake sale in tower unit
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)
- Tweet this
- Share this
- Digg this