Bharti, Reliance end talks on insurance JVs deal

(Reuters) - Reliance Industries has mutually agreed to end negotiations with Bharti Enterprises to buy its stakes in two insurance joint ventures with France's AXA, the two Indian companies said on Friday. Reliance said the negotiations to acquire Bharti's 74 percent stakes in the life insurance and general insurance joint ventures were terminated as it was "unable to reach agreement on the long-term vision and joint governance of the ventures" with AXA. Reliance, India's largest-listed company, had said in June that it would buy out Bharti's stakes, as it sought to build on moves beyond its core energy business.Read More: http://in.reuters.com