RCom shares plunge 13% on report of govt blocking Jio deal
Shares of Anil Ambani-led Reliance Communications (RCom) on Wednesday plunged as much as 13% following reports that telecom department rejected its proposed spectrum sale to Reliance Jio. This comes after Jio reportedly informed the government it won't be liable for RCom's dues related to airwaves. According to trading norms, the buyer is liable for dues that aren't recovered from seller.