Emirates Telecommunications Corp (Etisalat) is close to buying a 26 percent stake in No. 2 Indian telecoms firm Reliance Communications , the Financial Times reported, citing people familiar with the negotiations.The deal is estimated to be worth $3 billion, and the two groups are considering merging Reliance with Swan Telecom, the Indian company in which Etisalat holds a 45 percent stake, the newspaper said.(Reporting by Pratish Narayanan; Editing by Ranjit Gangadharan)(For more business news on Reuters India click http://in.reuters.com)News posted by www.newsinfoline.com
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