, Columnist
An Indian Billionaire Is Cloning Verizon
Reliance is adopting a winner-take-all strategy in its $30 billion Indian telecoms bet.
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India's most valuable business is earning money hand over fist from oil. Yet what's exciting investors about Reliance Industries Ltd. are its telecoms losses.
Those should go some way toward creating the Indian equivalent of Verizon Communications Inc., the largest U.S. wireless carrier. Or at least that's what the stock's 38 percent jump this year in dollar terms is all about.