Shares of Reliance Communications rose 1.88 per cent to Rs 219.75 a share on reports that the company was considering bidding for Iran’s third mobile phone service licence. A total of 56.28 lakh shares changed hands at the Bombay Stock Exchange. Shares of the company touched a high of Rs 228.4 a share and a low of Rs 215 a share in intraday trading.
RCom will compete with firms from Russia, Turkey and Malaysia for the tender for which Iran will call bids shortly, reports suggested. The two existing operators in Iran are state-owned Telecommunication Company of Iran and MTN Irancell, which is 49 per cent owned by the South Africa-based MTN Group.
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