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New Delhi, Dec. 1

The Foreign Investment Promotion Board (FIPB) has cleared a proposal by Sistema Joint Stock Financial Corporation, Russia, to raise its stake in Shyam Telelink to up to 49 per cent. The company currently has 10 per cent stake in Shyam Telelink. The proposal had come up for discussion at an FIPB meeting on Friday and is understood to have got a clearance subject to approval of the Finance Minister. —

Our Bureau

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