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RCom shares fall after rival Bharti Infratel’s pact

Shares of Reliance Communications fell 1.7 per cent after a unit of rival Bharti Airtel, Bharti Infratel, entered into a tower sharing pact with Reliance Industries.

The deal with Bharti reduces the prospect that Reliance Communications and Reliance Jio Infocomm, the telecom unit of Reliance Industries, will expand their tower sharing deal from last year.

Reliance Jio Infocomm signed a deal worth Rs. 1,200 crore in June 2013 to share Reliance Communications fibre optic network for 4G services.

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