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TCIL to buy out partner’s stake in TCIL Saudi

Saudi-based Nesma Holding Co has agreed to sell its stake in TCIL Saudi Co, a joint venture with India's state-owned telecom consultancy firm TCIL, for around $527,500, The Economic Times has reported. By acquiring the Jeddah-based conglomerate's 60% share, TCIL has become the sole owner of the firm, the report said.