• Rate this Story
  • 0
  • 0

January 24, 2013 10:36 PM PST

Shares in Reliance Communications(RLCM.NS) 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(RELI.NS).

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 October-December quarter.

Shares in Reliance Communications were up 2.9 percent as of 9:35 a.m.. Reliance Industries shares were down 0.7 percent.

  • Rate this Story
  • 0
  • 0
Copyright 2012 Thomson Reuters. All rights reserved.

Join the Conversation

Follow IBTimes

E-Newsletters

We value your privacy. Your email address will not be shared.