| Bharti-Zain deal is sure to succeed |
 Bharti Airtel, Country’s largest telecom company is almost sure to succeed in acquiring the African assets of Kuwait’s Zain.
Without giving any time frame Rajan Mittal, the younger brother of
Sunil Bharti Mittal and a member of the telecom operators board has
expressed that the company is sure to complete its proposed purchase.
The two telecom companies are in exclusive talks till March 25 for the
deal. Bharti has offered $ 9 billion and is sure to get financed a debt
of $ 1.7 billion for the deal. Shri Rajan was addressing a meeting
after being elected the president of FICCI. He said that as president
of this institution his first priority shall be to emphasize reduction
of transaction costs in business. He aims at simplification of rules
and regulation and abolishing the inspector raj in business as well as
industry. He aims to attract an FDI of Rs $75 billion by 2015. On
inflation Shri Rajan suggested allowing the participation in food
processing. Citing the example of telecom sector, he said that more
competition in these sectors could control inflation as it has done is
telecom sector. |
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