April 2, 2013 / 10:16 AM / 5 years ago

Anil Ambani group shares surge; pact with Reliance Industries' unit

MUMBAI, April 2 (Reuters) - Shares in Anil Ambani group companies rose sharply after its telecom firm Reliance Communications Ltd entered into a pact with a unit of Mukesh Ambani’s Reliance Industries Ltd. for sharing the company’s optic fibre network, sparking speculation about a wider rapproachement among the brothers.

Reliance Communications provisionally closed 16.9 percent higher, while Reliance Infrastructure Ltd extended gains to 4.8 percent, and Reliance Capital Ltd gained 5.6 percent.

Mukesh Ambani-controlled Reliance Industries rose 2.1 percent.

abhishek.vishnoi@thomsonreuters.com

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