NEW DELHI: Reliance Communications is likely to emerge a front runner to acquire UK-based Global Virtual Network Operator Vanco, a move that would offer the Indian company a virtual network in various parts of the world.
According to sources, the negotiations are in the last stage and the deal could be closed by week-end. Although the final price of the deal is not known, at its peak the market cap of Vanco stood at $800 million. 12 international players are in the fray including AT&T, BT, T-System, NTT and private equity firms like Platinium and Oakley.
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