Reliance Comm shares extend gains on media report of stake sale
MUMBAI Jan 25 (Reuters) - Shares in Reliance Communications Ltd extended gains to as much as 7.9 percent 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.
Reliance Communications shares were up 7.4 percent as of 0857 GMT, nearly recovering its 9.14 percent fall on Thursday 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. (email@example.com)
- Tweet this
- Share this
- Digg this
- UPDATE 3-Pizza chain Sbarro files for bankruptcy protection
- Rupee hits 7-month high as custodian banks sell dollars
- Ten countries scour sea for Malaysia jet lost in "unprecedented mystery"
- U.S. top court declines to hear 'I (heart sign) boobies' case
- UPDATE 3-China steel futures hit record lows, spot iron plunges
The BSE Sensex ended up slightly on Monday after rising to a record high for a third consecutive session as strong foreign buying continued to boost domestic-focused shares such as those of HDFC Bank, but momentum waned as exporters slumped on a stronger currency. Full Article