Reliance Broadcast in Talks to Raise $87 Million

Wall Street Journal | August 30, 2011 | Kenan Machado

MUMBAI – Reliance Broadcast Network Ltd. said Monday it is in talks with private-equity investors to raise as much as 4 billion rupees ($87 million) through a preferential allotment of shares, as the company seeks to reduce debt and expand its radio and television businesses.

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