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Reliance Communications stock plunges 11%

Wed, Oct 04 2017, 12:11 PM

Two days after Reliance Communications announced the termination of merger talks with Aircel, and a day after it said this deal would lower the value of the proposed sale of its mobile tower arm to Brookfield Group, shares of the Anil Ambani-owned telecom company tumbled 11% on Tuesday to a new all-time low. Since September 2016, when it announced exclusive merger talks with Aircel, the RCom stock has shed 65%.