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RCom in talks with Reliance Industries for stake sell in mobile tower unit: Report

Reliance Communications (RCom) is reportedly in talks to sell a stake in its mobile tower unit to Reliance Industries. In this deal, Reliance Industries' unit Reliance Infotel is likely to buy stake in Reliance Communications' unit Reliance Infratel. These talks also involved a leasing arrangement between the two units.

The company has reported a net profit of Rs 110.00 crore for the quarter ended December 31, 2012 as compared to a net loss of Rs 277.00 crore for the same quarter in the previous year. Total income of the company has increased by 9.54% at Rs 3294.00 crore for quarter under review as compared to Rs 3007.00 crore for the quarter ended December 31, 2011.

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