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Mukesh Ambani-led Reliance Industries (RIL) is planning to acquire Hotel Leelaventures business park in Chennai to house its headquarters for its 4G operations, according to reports.
Vivek Nair, vice-chairman and managing director, Hotel Leelaventure reported, The deal has been finalised with RIL for Rs1.72bn and we are just waiting for the documents to be exchanged.
The Leela business park is part of the 6-acre land that also houses a 11-storeyed hotel the Leela Palace with 326 rooms and suites, says report
There are reports that the property with the business park is situated on seafront with Chennais main business district in close proximity.
India Infoline Research Team / 08:49, Aug 21, 2014
The outlook is a flat open. Global indices are up. The minutes from the Federal Reserve's July meeting indicate that the Fed is in no hurry to raise interest rates. The Dow added 0.35% while S&P was up 0.25%. Nasdaq ended marginally lower. Asian indices are mixed with Nikkei up almost a percent while Hong Kong's Hang Seng index is lower. South Korea's Kospi index and China's Shanghai index are also in the red.