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| By Samudranil Mukherjee |
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Monday, June 07, 2010 (09:51:12) |
| Tags : AT&T, Reliance Communications, India, US |
AT&T looking to buy minority stake in Reliance Communications |
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| New Delhi, June 7: AT&T is presently in talks with Reliance Communications, one of the major telecom companies in India. If the talks are finalised then the US telecom major would be in a position to buy a substantial amount of minority stake in the company.
Sources have however, refrained from terming the deal as a sure one. Reliance Communications is regarded as the second most prominent provider of mobile services in India. It has already given its consent to putting up 26% of the company ownership for sale. As per the present market levels this could amount to $2 billion. However, no details regarding the details or time frame of the sale have been disclosed as yet.
The stocks of Reliance Communication shot up by 14 percent in the week gone by. However, they are already facing issues regarding expenses involved with the provision of third generation telecom services.
However, it is being speculated that MTN, from South Africa and Etisalat, from Abu Dhabi, could become possible partners of Reliance Communications. |
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