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Article: INDIAN NEWSPAPER HIGHLIGHTS - MAY 26, 2009.
- Article from:
- AsiaPulse News
- Article date:
- May 26, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DELHI, May 26 Asia Pulse - Highlights of today's newspapers:
THE ECONOMIC TIMES
- The proposed deal between Bharti Airtel and MTN will not violate the foreign direct investment norms. At the same time, as the deal is not a pure acquisition, but getting completed under a scheme, a company source said it would not trigger an open offer by MTN for Bharti's shares as per SEBI norms. In the deal, MTN and its shareholders put together will hold 36.37% in Bharti. In the first leg of the deal, Bharti will buy 36% of MTN's existing 1.89 billion shares from shareholders. The company will pay 86 rands per share and freshly issue half-shares of Bharti. That ...