AT&T may be in talks to acquire a stake in one of India’s leading mobile service providers, Reliance Communications. The talks are said to be in early stage at the moment and there are no breakthroughs as yet. In fact, there are rumored to be some disagreements with respect to the stock-holding pattern. AT&T is noted to be intent on acquiring a majority stake though it is said that Anil Ambani, the head at Reliance is keen on retaining the majority stake in the company.
Nevertheless, the companies are said to be in deep negotiations over the sale. Reliance Communications is the second largest mobile carrier in India with over 105 million subscribers. The next few years are expected to be extremely profitable considering the imminent launch of 3G services in the country. AT&T is hence noted to be eyeing a comeback to the country after it sold off its stake in Idea Cellular back in 2005 owing to low margins.[via WSJ]