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RCom board nod for FCCB issue

MUMBAI: The board of directors of Reliance Communications (RCom), which met here on Wednesday, has reaffirmed its interest in the potential opportunity relating to the business of Hutchison Essar Ltd. (HEL). The board has authorised RCom Chairman Anil Ambani to take all necessary steps for this purpose, including raising long term resources in the form of external commercial borrowings (ECBs) as may be appropriate. The board also noted that there is no certainty either on the completion or the timing of the proposal.

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