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RCom shares jump over 14% amid reports of real estate assets sale

The stock surged 14.10 per cent to Rs 13.75 on BSE

Press Trust of India  |  New Delhi 

The lenders to Reliance Communications are meeting next week to discuss its future, after its two lifeline deals - a merger with Aircel and the sale of towers - collapsed
Reliance Communications

Shares of soared over 14 per cent on Tuesday amid reports that lenders of the debt ridden firm have approved the sale of its real estate assets in Delhi and Chennai to a Canada-based company.

The stock surged 14.10 per cent to Rs 13.75 on BSE.

On NSE, shares of the company zoomed 14.10 per cent to Rs 13.75.

"Lenders have approved sale of real estate assets holds in Delhi and Chennai for Rs 801 crore to Brookfield," a source privy to the development told PTI yesterday on condition of anonymity.

is Canada-based asset management firm.

When contacted declined to comment on the development, while email query sent to elicited no reply.

The proceeds will be used for retiring debts, the source said.

is reeling under Rs 45,000 crore debt.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, November 21 2017. 14:53 IST