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