Not in talks with Tata Tele for merger, clarifies Reliance Communication

Reliance Communication on Tuesday clarified that the company is not in talks with Tata Teleservices for merger. 

"We wish to inform you that the Company constantly evaluates various opportunities and engages in various discussions. As and when any of these result in a reportable event, the Company shall make appropriate disclosures. As on date, to the best of the Company's knowledge and information, no such event has occurred," RComm said in a regulatory filing. 

On Monday, The Economic Times had reported that Tata Teleservices is in early talks with the merged Reliance Communication- Aircel and MTS to explore a possible acquisition, to give competition to Reliance Jio. 

And, if the deal goes through, this would create third biggest telecom operator after Vodafone-Idea combined and Bharti Airtel, which will give enough competition to new entrant Reliance Jio.

Hence, soon after the report, the exchange had sought clarification from Reliance Communication. 

At 1220 hours the shares of the company were trading at Rs 35.15 per piece, up 1.59% or Rs 0.55 on BSE.