Friday, 23 May 2014

RCOM surges on stake sale reports

The stock has hit a high of Rs143 and a low of Rs140.

Shares of Reliance Communications was up 2% at Rs 142 on reports that China’s Citic Telecom  is in talks with the Anil Ambani-led company to buy into its undersea cable assets.
The stock has hit a high of Rs143 and a low of Rs140.

 According to reports, if a deal is successful, it would value RCom’s cable assets at $1billion (Rs 5,829 crore).
 

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