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French lender BNP Paribas is in advanced talks to buy out its Indian partner Geojit Financial Services in an institutional broking joint venture, two sources with direct knowledge of the matter said on Saturday. Earlier in the day, the Times of India newspaper reported about the potential transaction. "We are in talks and in pretty advanced stages. An announcement (is) likely in two to three weeks," one of the sources told Reuters.

Copyright Reuters, 2011

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