Tuesday, Sep 02, 2008
BANGALORE (Dow Jones)--India's Loop Telecom Pvt. Ltd., a unit of mobile phone services firm BPL Mobile Communications Ltd., is in talks with Kuwait-based Zain Telecom and Norway's Telenor ASA (TEL.OS) for the sale of a strategic stake, the Business Standard reported Tuesday, without citing sources.
The report said it isn't clear whether Zain and Telenor are considering buying a majority stake in Loop Telecom or will be content with just a 26% stake.
The report didn't provide valuation details.
Newspaper Web Site: http://www.business-standard.com
-By Bangalore Bureau; Dow Jones Newswires; djn.in@dowjones.com
(END) Dow Jones Newswires
02-09-08 0424GMT
