AT&T may acquire 26% stake in Reliance Telecommunications

USA's AT&T is in talks with India's Reliance Telecommunications to acquire 26% stake. Senior offers from both the companies are in talks in this regard. The sources also cautioned that a deal was not imminent, the report said. Reliance Com, India's No.2 mobile carrier, said its board had agreed to sell up to 26 per cent of the firm, which could be worth nearly $2 billion at current market levels, though it did not disclose a timeframe or details of the sale.

Source: #-Link-Snipped-#