India’s Business Standard is reporting that Reliance Communications (RCOM) has begun preliminary discussions with China Mobile with regard to a possible strategic alliance between the two companies. It is also understood that RCOM may consider between 5% to 6% equity participation, having recently revealed it may issue equity shares in a bid to finance its bid for a 3G licence, expand its broadband operations and improve its general finances. For its part, China Mobile has indicated its desire to enter the Indian market, following comments by Wang Jianzhou, China Mobile’s chairman and CEO, in February this year.
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