Middle Eastern operator Etisalat is close to buying a 26 percent stake in India’s Reliance Communications, reports the Financial Times. Citing people familiar with the negotiations, the newspaper said the deal was estimated to be worth US$3 billion. The two groups are also reportedly considering merging Reliance Comm, India’s number two mobile operator, with Swan Telecom, the Indian company in which Etisalat holds a 45 percent stake.
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