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Earning's Season Becomes Talk Of Street

Top U.S. phone company AT&T is eyeing a wireless acquisition in India, a market it is focusing on as a key growth opportunity, the Wall Street Journal reported in its online edition.

The report, citing people familiar with the situation, said AT&T was also looking to significantly expand its Internet and phone services to businesses in India.

AT&T Chief Executive Randall Stephenson was quoted as saying he saw the country as a "multibillion-dollar revenue opportunity."

Stephenson, who took over from Ed Whitacre in June, also said in the Journal report that he is seeking partnerships in Dubai and plans to bid on wireless spectrum in an upcoming auction in Qatar.

Stephenson said in an interview with Reuters earlier in the year that the company was open to buying overseas assets.

AT&T launched a commercial business in India earlier this year. Last year it became the first foreign carrier to secure a license for long-distance and international services in India under a revised policy that allows foreigners to own up to 74% of their Indian units.

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.