Tata Tele, RCom shares surge up to 7 per cent amid merger buzz

Shares of Tata Teleservices and Reliance Communications surged up to 7 per cent today amid reports of merger talks.

The scrip of Tata Teleservices (Maharashtra) Ltd jumped 6.62 per cent to end at Rs 6.44 on BSE. During the day, it zoomed 10.43 per cent to Rs 6.67.

Shares of Reliance Communications rose by 4.37 per cent to close at Rs 34.60. Intra-day, it gained 6.93 per cent to Rs 35.45.

As per media reports, the union will see Tata Tele join the merged entity of RCom-Aircel and MTS.

Meanwhile, BSE has sought clarification from both the companies with reference to the report that Tata Tele is in early talks to join RCom Aircel MTS combine.