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Monday, March 11, 2013

AT&T eyes $3.5B stake in Indian telco venture.

AT&T (T) is reportedly looking at acquiring a 25% stake in Indian telecom venture Reliance Jio Infocomm for $3.5B in a deal that would represent the largest foreign direct investment in India. Reliance Jio Infocomm, which is controlled by the country's richest man, Mukesh Ambani, hasn't yet begun operating; it aims to break even within three years of starting services.

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