RCom surges; Citic Telecom eyes undersea cable JV
May 23 2014 , Mumbai
Reliance Communications shares were trading up 3 percent as of 9:32 a.m.
If completed, the move would create a 50-50 joint venture valuing Reliance Communications' cable assets at $1 billion, the newspaper reported on Thursday.
Both Reliance Communications, India's fourth-biggest mobile phone operator by customers and controlled by billionaire Anil Ambani, and Citic Telecom declined comment on the report on Thursday.