Monday, July 20, 2009

MTN Seeks US$3.5billion For Bharti Airtel Deal

MTN South Africa is in conversation with a group of lenders to secure a $3.5 billion syndicated loan to back its proposed merger with India's Bharti Airtel, banking sources revealed.

Bank of America-Merrill Lynch and Deutsche Bank are advising MTN on the deal.

Bharti has been talking to banks about a $5-6.5 billion loan to back the merger, banking sources said.

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