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Reliance Telecom to offload stake

October 15, 2006
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Reliance Communication subsidiary Reliance Telecom is planning to offload up to 74 per cent stake to foreign investors.

The company had reportedly been negotiating with several global players, including China Mobile and Russia's AFK Sistema, for the stake sale. The Foreign Investment Promotion Board (FIPB) has given the company approval to hike its FDI to the maximum limit.

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