Shares of RCom plunges 10% after DoT rejects deal with Reliance Jio
Shares of Reliance Communications Wednesday plunged up to 10 per cent after media reports suggested that department of telecom rejected the deal to trade airwaves between the Anil Ambani-led company and Reliance Jio.
On NSE, the scrip fell 9.52 per cent to settle at Rs 14.25 before touching a low of Rs 13.65 during the trading session.
Last week, Mukesh Ambani-led Jio had sought assurance from DoT to not be held liable for RCom's past dues related to airwaves.
DoT said that it cannot accept the deal as it is not in accordance with the government's spectrum trading provisions.
(With inputs from agencies.)
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