RCom climbs 2 pct on Digicable acquisition

On Friday,the board of RCom had approved the proposal for the acquisition of Digicable without disclosing the deal value.

Meanwhile,the BSE benchmark Sensex was also in the green,trading higher by 76 points,or 0.43 cent,to 17,585.33.

On the National Stock Exchange,RCom climbed to Rs 194,up 0.91 per cent.

According to sources,the deal would create an entity valued at an estimated USD 1 billion over Rs 4,500 crore,and the Anil Ambani Group would hold about 60 per cent stake in it.

The acquisition comes within days of RCom announcing the merger of its telecom tower business Reliance Infratel with GTL Infrastructure in a Rs 50,000-crore deal.