AT&T linked with 25% Reliance stake

11 Mar 2013

According to Reuters, AT&T Inc is considering acquiring a 25% stake in India’s Reliance Infocomm, which is controlled by billionaire Mukesh Ambani. The rumours, which originated with the Times of India newspaper, value the deal at USD3.5 billion, the largest foreign direct investment (FDI) in India to date, and imply a market value of USD14 billion. A spokesperson for AT&T declined to comment on the report.

India, AT&T, Reliance Communications (RCOM)