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

Shares of Tata Teleservices and Reliance Communications surged up to seven per cent on Monday amid reports of merger talks.

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

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

As per media reports, the union will see Tata Tele join the merged entity of RComAircel 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.