AT&T, India's Reliance in Informal Talks - TheStreet

AT&T, India's Reliance in Informal Talks

AT&T has held informal talks with Reliance Communications on a deal where AT&T would take a minority stake in the Indian cellphone company.
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AT&T

(T) - Get Report

has held informal talks with India's

Reliance Communications

about having AT&T take a significant majority stake in Reliance, according to a published media report.

Advisers and officials of the two companies have communicated in recent weeks to explore such a deal, according to the report, published Sunday on

The Wall Street Journal's

Web site. The report cited anonymous sources familiar with the discussions.

The talks are still at a very early stage, the report said.

Reliance is a cellphone company backed by billionaire Anil Ambani.

Shares of AT&T closed Friday at $24.17.

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This article was written by a staff member of TheStreet.com.