Saudi telecom denies India talks

Saudi Telecom Company, the Arab world’s largest telecom company by market value, has denied a report it was discussing buying a stake in an Indian telecoms tower unit. India’s Business Standard, citing sources with direct knowledge of the developments, said state-owned STC was looking to take a stake of 10 to 15 per cent in the newly created GTL-Reliance Infratel tower unit. In fact, STC is looking at expansion opportunities abroad in South Asia, the Middle East and North Africa, Hasbani told reporters in an interview earlier this month.