Reliance keen on Hutchison India phone assets: FT

Singapore, Dec 13: Reliance Communications is in talks to team up with three US private equity groups trying to buy the Indian mobile phone operations of Hutchison Telecommunications International in a deal worth more than billion, the Financial Times reported on Wednesday.

Reliance had previously held talks with Carlyle [CYL.UL] and Blackstone [BG.UL] about a possible bid for Hutchison Essar, which is 67 percent-owned by Hong Kong tycoon Li Ka-shing's Hutchison International.

It is now in discussions to include Texas Pacific Group [TPG.UL] in its ranks, the paper said without identifying its sources.

Such a deal for Reliance, headed by Anil Ambani, would boost its position in the fast-growing Indian mobile market to number one.

REUTERS