AT&T may buy stake in Indian telecom venture - Times of India
March 9 (Reuters) - AT&T Inc is considering buying a 25 percent stake in India's Reliance Jio Infocomm Ltd, a telecommunications venture controlled by billionaire Mukesh Ambani, for $3.5 billion, the Times of India newspaper reported.
Such a deal would represent the largest foreign direct investment in India and would value the company at $14 billion, the report said.
A spokesman for AT&T declined to comment on the report.
Ambani, who controls conglomerate Reliance Industries Ltd , is India's richest man. The telecommunications venture aims to break even within three years of its launch, according to the report.
- Malaysia says no evidence missing plane flew hours after losing contact |
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- Rescuers search site of NY building collapse; seven dead
- White House tried to mediate dispute between Senate, CIA panel: source
- Missing jet may have strayed to west, Malaysia military says |