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MARKET WATCH: RCom jumps on FCCB buyback, stake sale talk.
from BUSINESS LINE, December 12, 2008 Mumbai, Dec. 11 - Reliance Communications shot up close to five per cent on Thursday on reports that global telecom companies are eyeing a stake of up to 26 per cent in the company.
The share price rose 4.8 per cent to close at Rs 239.2 hitting an intra-day high of Rs 249.4.
In a statement to the exchanges in response to the reports, RCom said it has been receiving various proposals from time to time from "reputed telecom international companies" expressing interest in acquiring a stake in it and that "it evaluates such proposals".
Marketmen said that they were "sceptical" about reports of a possible stake sale …
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