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AT&T Planning To Acquire 26% Stake in Reliance Jio Infocomm: Report

AT&T, the largest telecom company in the United States, is looking to pick up 25% stake in Reliance Jio Infocomm (previously Reliance Infocomm Infotel) for $3.5 billion (Around Rs 18,991 crore), reports The Times Of India. While the report hasn't disclosed any specific details on this partnership, it mentions that RIL is planning to spend around $10 billion on its telecom services, of which the company has already spent $4 billion on securing requisite licenses and setting up infrastructure. RIL has however apparently declined to comment on this partnership to the publication. This development follows a similar Voice&Data report in October 2012, which had suggested that Reliance Infotel was in talks with AT&T to offload 26% stake for Rs 19,000 crore and the deal was in advanced stages. Through this deal, RIL was planning to leverage AT&T's expertise in rolling out LTE networks in the United States to roll out its own service in the country. RIL 4G Launch: Interestingly, the report also cites sources which inform that RIL is planning to launch its 4G service on December 28, coinciding with the birth anniversary of Reliance Industries founder Dhirubhai Ambani and will be rolling out the service in a phased manner, starting with Delhi and Mumbai later in the year, followed by 69 Indian cities in 2014 and over 800 Indian cities by early 2015. AT&T Re-Entry: If the report turns out to be true, this partnership will also mark the re-entry of AT&T into the Indian market. AT&T previously held around one-third equity in…

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