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    Reliance Comm gains on stake buy reports

    Shares in Reliance Communications 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.

    January 25, 2013 / 11:22 IST

    Shares in Reliance Communications 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.

    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.

    Reliance Comm shares fall on Dec quarter earnings

    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.

    Reliance Comm deal with RIL 'inevitable': CLSA

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

    first published: Jan 25, 2013 09:42 am

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