Ambani Brothers may extend their partnership in telecom sector: Report

Subscribe to GoodReturns

Ambani duo may extend their partnership in telecom sector
Soon after the Rs 1,200 crore deal signed last month, Ambani Brothers may enter into two more infrastructure sharing agreements for their respective telecom firms by mid-June this year, said a media report.

Mukesh Ambani led Reliance Jio Infocomm Ltd last month signed agreement with Anil Ambani's Reliance Communications Ltd (RCom) to use latter's inter-city optic fibre network spread across 120,000 km across the nation.

Experts have been closely watching the stocks of Anil Ambani group firms as hi RCom is the clear beneficiary of the deal. RCom stock has gained 84 per cent to Rs 105 a share on the BSE since the announcement on April 2.

Sources familiar to the development told media agency that the talks on two new infra sharing agreements were on advanced stages and a formal announcement could come with 4-6 weeks.

Read more about: reliance, anil ambani, mukesh ambani
Story first published: Friday, May 3, 2013, 9:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?