(Corrects headline, Reliance gains on media report of sale
MUMBAI Jan 25 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
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)