Etilsalat joins the race, others may be interested

Etilsalat joins the race, others may be interested
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First Published: Tue, May 13 2008. 10 31 PM IST

Today’s chances
Today’s chances
Updated: Thu, May 15 2008. 10 11 AM IST
Today’s chances
After Emirate Telecommunications Corp or Etilsalat signalled on Monday that it is interested in MTN Group Ltd, Africa’s largest phone firm, it is clear that Indian phone firm Bharti Airtel Ltd is not the only suitor in what could be a multi-billion dollar deal. The entry of Etisalat into the fray -- and others such as China Mobile or even large buyout firms might be interested -- means that Bharti Airtel’s offer of some $21.7 each MTN share, valuing the target at $37 billion, will almost certainly have to go up leading to a bidding war, predicted by Mint last week. A quick closure of the deal too looks unlikely. This week’s discussions between Bharti Airtel and MTN senior management will prove crucial.
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First Published: Tue, May 13 2008. 10 31 PM IST