Reliance Infotel in Talks with AT&T to Offload 26% Stake

Reliance Infotel is in talks with AT&T for a possible partnership for it’s yet to be launched broadband wireless access business. The Mumbai headquartered company is planning to offload 26% stake for 19,000 crore and is in advanced talks with the US telecom behemoth. ‘Both the companies are in active discussion for a partnership and the US based carrier is keen on taking 26% stake in RIL-Infotel in the initial phase,’ said a source familiar with the development. They might increase the share holding structure in future.’ As per the talks so far, AT&T, the largest telecom service provider in the US, would pay close to 19,000 crore to buy 26% of RIL Infotel and would take 2 seats in the board of management of the new entity.