AGL 40.10 Increased By ▲ 0.10 (0.25%)
AIRLINK 127.03 Decreased By ▼ -0.01 (-0.01%)
BOP 6.64 Decreased By ▼ -0.03 (-0.45%)
CNERGY 4.55 Increased By ▲ 0.04 (0.89%)
DCL 8.54 Decreased By ▼ -0.01 (-0.12%)
DFML 41.70 Increased By ▲ 0.26 (0.63%)
DGKC 87.11 Increased By ▲ 0.26 (0.3%)
FCCL 32.60 Increased By ▲ 0.32 (0.99%)
FFBL 64.99 Increased By ▲ 0.19 (0.29%)
FFL 10.23 Decreased By ▼ -0.02 (-0.2%)
HUBC 109.20 Decreased By ▼ -0.37 (-0.34%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.53 Increased By ▲ 0.07 (0.94%)
MLCF 41.61 Increased By ▲ 0.23 (0.56%)
NBP 59.88 Decreased By ▼ -0.53 (-0.88%)
OGDC 192.40 Increased By ▲ 2.30 (1.21%)
PAEL 28.17 Increased By ▲ 0.34 (1.22%)
PIBTL 7.81 Decreased By ▼ -0.02 (-0.26%)
PPL 150.55 Increased By ▲ 0.49 (0.33%)
PRL 27.03 Increased By ▲ 0.15 (0.56%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.78 Increased By ▲ 0.07 (0.91%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.15 Increased By ▲ 0.03 (0.37%)
TREET 16.32 Decreased By ▼ -0.09 (-0.55%)
TRG 53.60 Increased By ▲ 0.31 (0.58%)
UNITY 26.25 Increased By ▲ 0.09 (0.34%)
WTL 1.29 Increased By ▲ 0.03 (2.38%)
BR100 9,989 Increased By 105.7 (1.07%)
BR30 31,179 Increased By 579.5 (1.89%)
KSE100 94,185 Increased By 829.4 (0.89%)
KSE30 29,187 Increased By 256.3 (0.89%)

Indian mobile operator Bharti Airtel's move to sweeten a $24 billion deal with South Africa's MTN is a key step in reaching an agreement as a deadline nears, analysts and sources said on Friday. Bharti has increased the cash component of its offer for a 49 percent stake in MTN to $10 billion from a proposed $7.6 billion, two people familiar with the matter said.
On top of that, Bharti would pay $4 billion in stock for a total package of $14 billion, 7 percent more than the earlier $13 billion proposed deal. "We believe a deal under the aforementioned terms would be positive for Bharti given only a marginal increase in overall payout," RBS analysts wrote in a research note.
The deal is subject to an end-September deadline. The firms have extended talks twice. "Management of both companies has been working hard and I'm optimistic we'll get an agreed offer to put to shareholders before the end of the month," according to one source, who could not be named as he was not authorised to speak publicly about the negotiations.

Copyright Reuters, 2009

Comments

Comments are closed.