January 22, 2013 / 5:14 AM / 5 years ago

RComm gains on hopes of deal with Reliance Industries

1 Min Read

The sun rises behind a communications tower in New Delhi March 20, 2006.B Mathur/Files

MUMBAI (Reuters) - Reliance Communications(RLCM.NS) shares rose as much as 3.2 percent after The Economic Times reported the company was in preliminary talks with Reliance Industries for a mobile network sharing deal.

The deal could involve Reliance Infratel Ltd, a unit of Reliance Communications, leasing out capacity in some of its mobile towers to Reliance Industries(RELI.NS), the newspaper reported, citing two executives aware of the development.

Reliance Industries is planning to roll out high speed mobile data services.

Reliance Communications shares were up 2 percent as of 10:40 a.m. while shares in Reliance Industries were up 1 percent.

Reporting by Abhishek Vishnoi and Rafael Nam; Editing by Anupama Dwivedi

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