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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Reliance Communications    RCOM   INE330H01018

RELIANCE COMMUNICATIONS (RCOM)
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Reliance Communications Talking To 4 Companies To Hand Out $3 Billion Network Management Contract - Source

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02/21/2012 | 06:44am CEST

Reliance Communications Ltd. [532712.BY] is in talks with four companies for a $3 billion contract to manage its mobile phone networks, a person with direct knowledge of the development said Tuesday.

The telecom company, part of the Reliance Group owned by billionaire Anil Ambani, is speaking with L.M. Ericsson Telephone Co. [ERIC], Alcatel-Lucent [ALU] as well as China's ZTE Corp. [ZTCOY] and Huawei Technologies Co., the person told Dow Jones Newswires.

"Reliance Communications plans to finalise the contract in the next month, month-and-a-half," the person said.

Executives at the Indian units of Huawei, ZTE, Alcatel-Lucent and Ericsson couldn't immediately be reached for comment.

Reliance Communications is India's second-largest mobile phone company with more than 150 million subscribers.

--By R. Jai Krishna, Dow Jones Newswires; +91-9967586928; [email protected]

Stocks mentioned in the article : ALCATEL-LUCENT, ZTE Corporation, Reliance Communications Ltd.
Stocks mentioned in the article
ChangeLast1st jan.
ALCATEL LUCENT 0.00%-End-of-day quote.0.00%
ERICSSON -0.40% 65.26 Delayed Quote.21.19%
ERICSSON 1.61% 6.436 Delayed Quote.17.23%
RELIANCE COMMUNICATIONS 1.06% 14.3 End-of-day quote.-60.61%
ZTE CORPORATION --End-of-day quote.
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Managers
NameTitle
Gurdeep Singh Co-Chief Executive Officer & Director
William L. Barney Co-CEO & Non-Executive Non-Independent Director
Anil Dhirubhai Ambani Chairman
Venkataramani Manikantan Chief Financial Officer & Director
Deepak Haridev Shourie Lead Independent Director
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