RCom may get 20% fresh equity in MTN
Submitted by Shilpa Mahapatre on Sat, 07/05/2008 - 18:57.
MTN Group is likely to issue 20 per cent fresh equity to Reliance Communications (RCom).
The deal will aid Ambani in attaining a greater power over the company by making him own up to 34.99% stake in the MTN.
However, one of the MTN promoters also seeks a stake in RCom.
The spokespersons of both the entities refused to mention any development, whatsoever.
The shares of RCom rose 12.5 % on the Bombay Stock Exchange.
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