If completed, the move would create a 50-50 joint venture valuing Reliance Communications' cable assets at $1 billion.
If completed, the 50-50 joint venture would value Reliance Communications' cable assets at $1 billion, the newspaper said, adding Citic Telecom beat out two other bidders from West Asia earlier this month.
RCom's stock opened the day on a positive note and further gained 3.74 per cent to Rs 143.90 on the BSE.
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The benchmark has gained 2 per cent this week on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
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