Reliance Capital gains; in talks to sell 26% stake in general insurance arm

Reliance Capital gains; in talks to sell 26% stake in general insurance arm

Shares in Reliance Capital gained around 1.8 per cent after its CEO said the financial services firm has begun talks to sell a 26 per cent stake in its general insurance arm to a strategic foreign partner, in an interview to a newspaper.

A spokesman confirmed to Reuters the comments made by the CEO Sam Ghosh in the interview with the newspaper.

Mr Ghosh, however, did not name the potential partners in the interview.

In December, Reliance Capital had also said it was in talks with potential partners to sell up to 26 per cent in its general insurance business.

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