Reliance Comm gains on hopes of deal with Reliance Industries

Last Updated: Tue, Jan 22, 2013 05:23 hrs
Investors watch a display at a local share market in the northern Indian city of Chandigarh

Reliance Communications shares rose as much as 3.2 percent after The Economic Times reported the company was in preliminary talks with Reliance Industries Ltd 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, 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 2.8 percent as of 0446 GMT while shares in Reliance Industries were up 1 percent.

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