RCom gains after renegotiating deal with Brookfield
ETMarkets.com|
Updated: Nov 08, 2017, 04.11 PM IST
NEW DELHI: Shares of Reliance Communications advanced on Wednesday after reports that the telecom operator is renegotiating its deal with Canadian investment fund Brookfield along with other potential buyers for a stake in its tower unit.
Following the development, the stock advanced 0.32 per cent to close at Rs 15.60 on BSE. It opened at Rs 15.75 and touched an intraday high and low of Rs 16 and Rs 15.45 respectively.
The scrip touched its fresh 52-week high of Rs 45.65 on November 8, 2016 and its 52-week low of Rs 15.35 on November 7, 2017.
The Anil Ambani-controlled company disclosed this in a regulatory filing, after stock exchanges sought clarification from RCom on an ET report that said the Brookfield deal in its earlier form had been called off.
Recently, asset management firm Brookfield said the $200 million deal with RCom was called off, but it would "continue to monitor the evolving situation to determine if revised terms can be agreed upon", ET reported.
Promoters held 59 per cent stake in the company as of September 2017.
Following the development, the stock advanced 0.32 per cent to close at Rs 15.60 on BSE. It opened at Rs 15.75 and touched an intraday high and low of Rs 16 and Rs 15.45 respectively.
The scrip touched its fresh 52-week high of Rs 45.65 on November 8, 2016 and its 52-week low of Rs 15.35 on November 7, 2017.
The Anil Ambani-controlled company disclosed this in a regulatory filing, after stock exchanges sought clarification from RCom on an ET report that said the Brookfield deal in its earlier form had been called off.
Recently, asset management firm Brookfield said the $200 million deal with RCom was called off, but it would "continue to monitor the evolving situation to determine if revised terms can be agreed upon", ET reported.
Promoters held 59 per cent stake in the company as of September 2017.
