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Reliance Industries Snaps Up Infotel Stake For $1B

By Erin Marie Daly (June 11, 2010, 1:02 PM EDT) -- India's Reliance Industries Ltd. has unveiled plans to shell out 48 billion rupees ($1.02 billion) for Infotel Broadband Services Ltd., a move that gives Reliance a 95 percent stake in a broadband provider that has just won the right to provide wireless access to all 22 service areas in India....

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