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Reliance Communications’ talks with potential partners for selling a stake in a unit that includes its undersea cable assets are in progress, Chairman Anil Ambani told shareholders on Tuesday.
He did not name any possible suitor.
The company, India’s third-largest mobile phone operator by customers, said in April it was in talks with a private equity consortium that included Samena Capital for the stake sale, after talks with Bahrain Telecommunications Co fell through.
