RComm falls after Bharti Airtel signs pact with Reliance Jio - NDTV

Reuters | Updated On: April 23, 2013 11:45 (IST) Shares in Reliance Communications fell as much as 5 per cent after Reliance Industries' telecom unit, Reliance Jio Infocomm, and Bharti Airtel entered into an agreement for international data connectivity. "(A) tie-up with Bharti means Reliance is open to players other than Reliance Comm as well, which decreases the probability of further deals between Reliance Communications and Reliance Industries," said G. Chokkalingam, executive director & chief investment officer, Centrum Wealth Management. The Anil Ambani-controlled Reliance Communications has gained 76.8 percent in April as of Monday's close, on hopes that the company will extend its pact with brother Mukesh Ambani-controlled Reliance Industries. Earlier this month, the two companies signed a pact which would allow Reliance Jio to use the fibre optic network of Reliance Communications, signalling the first sign of thaw in relation between the estranged brothers. Copyright @ T homson Reuters 2013 For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFPFlFYIZvLjdGX--8fjWVU5_PXtw&url=http://profit.ndtv.com/news/market/article-rcomm-falls-after-bharti-airtel-signs-pact-with-reliance-jio-321278

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