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

Voice&Data - - NEWS AND VIEWS -

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.