RLPC-South Africa's MTN seeks $3.5 bln loan for Bharti-bankers

 Source: http://www.forbes.com/feeds/afx/2009/07/17/afx6667885.html

LONDON,  (Reuters) - South Africa's MTN is in talks 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 close to the deal said.

The two telecom companies are in exclusive talks over a deal that

could lead to a full merger, creating

the world's third biggest wireless group with

more than 200 million subscribers and

combined revenue of $20 billion.

Bank of America ( BAC - news - people )-Merrill Lynch and
Deutsche Bank ( DB - news - people ) 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 told Reuters Loan Pricing Corp.

MTN declined to comment about the financing.

'At this stage the company has nothing further to add ....

The discussions are still in progress. MTN are in

exclusive discussions with Bharti Airtel

until 31 July 2009,' the company said.

 Source: http://www.forbes.com/feeds/afx/2009/07/17/afx6667885.html

             J-L K.
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