Reliance Communications, which is eyeing to acquire the country's fourth-largest mobile firm Hutch Essar, said on Wednesday it plans to raise funds through issue of securities in the international market.
A meeting of the company's board of directors would be held on January 10 to conside raising funds from international market, it said in a filing with the Bombay Stock Exchange.
The resources could be raised through issue of securities such as foreign currency convertible bonds or external commercial borrowings, RCom said.
Shares of Reliance Communications closed 0.44 per cent (Rs 2.05) up at Rs 472.80 at the BSE, taking the company's market cap to over Rs 96,600 crore (Rs 966 billion).
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