Reliance Comm shares rise more than 3 per cent | business | Hindustan Times
Today in New Delhi, India
Jul 26, 2017-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Reliance Comm shares rise more than 3 per cent

Shares in No 2 telecoms firm Reliance Communications rose more than 3 per cent today after a report it was considering a merger with South Africa's MTN or roping in a strategic foreign investor to raise funds.

business Updated: Jun 03, 2010 09:46 IST

Shares in No 2 telecoms firm Reliance Communications <RLCM.BO> rose more than 3 per cent on Thursday after a report it was considering a merger with South Africa's MTN <MTNJ.J> or roping in a strategic foreign investor to raise funds.

Abu Dhabi's Etisalat said on Wednesday it was looking to buy a stake in an Indian mobile operator, but did not disclose any names. A newspaper had reported it was in talks with cash-hungry Reliance Communications for a $3.8 billion deal.

At 0343 GMT, shares in the billionaire Anil Ambani-controlled firm were up 2.3 per cent at 158.10 rupees, after rising to as high as 159.50 rupees.

Shares in No 1 Indian telecoms firm Bharti Airtel <BRTI.BO> were up 0.5 per cent, while smaller rival Idea <IDEA.BO> was up 1.1 per cent.