GMR Infra falls after Maldives cancels airport project

MUMBAI Thu Nov 29, 2012 9:33am IST

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai July 23, 2008. REUTERS/Punit Paranjpe/Files

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai July 23, 2008.

Credit: Reuters/Punit Paranjpe/Files

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MUMBAI (Reuters) - Shares in GMR Infrastructure(GMRI.NS) fell 4.5 percent in early trade after Maldives cancelled its biggest foreign investment project, a $511 million deal with GMR to develop an international airport.

The cancellation of the deal signed in 2010 follows President Mohamed Waheed's failure to renegotiate terms, sources close to president's office have told Reuters. (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)

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