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Business deals

Singapore GIC leads $3.4bn deal for Reliance telecom towers

Sovereign wealth fund and partners secure 135,000 structures from Indian giant

GIC's investment in Reliance unit will allow it to further tap the Indian telecoms market.   © Reuters
DYLAN LOH, Nikkei staff writer | Singapore

SINGAPORE -- Singaporean sovereign wealth fund GIC said on Tuesday that it has joined with co-investors, including Canada's Brookfield Infrastructure Partners, to purchase an Indian telecom tower company from a unit of Reliance Industries for $3.4 billion.

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