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Saudi Telecom denies India telco tower reports

30 June 2010

Saudi Telecom (STC) has denied reports it was discussing buying a stake in an Indian telecoms tower unit, Reuters has reported. "There are no discussions to buy a stake in this firm," Ghassan Hasbani, the chief executive for international operations at STC, said. An Indian publication, citing sources with direct knowledge of the developments, said state-owned STC was looking to take a stake of 10% to 15% in the GTL-Reliance Infratel tower unit.

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