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RComm up on reports of stake sale in tower unit

Source : REUTERS
Last Updated: Fri, Jan 25, 2013 10:20 hrs

MUMBAI (Reuters) - Shares in Reliance Communications Ltd ended 7.62 percent higher at 86.10 rupees 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 stock nearly recovered most of its Thursday's losses of 9.14 percent, 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.

(Reporting by Abhishek Vishnoi)

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