Friday, April 16, 2010

Reliance Industries buys majority stake in Deccan 360

April 16, 2010
Reliance Industries and Deccan 360 announced today that RIL would buy majority stake into Deccan 360. Though the exact details are not yet known, it is believed that Reliance brings in an investment of upto USD 30 million into the company. This should not only give a boost to the company's expansion plans but also establish it as a long term player in the industry. This deal has the potential to completely change the market scenario.