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SBI Offers Bharti $1 Bln Loan For MTN
Posted on July 03, 2009
State Bank of India has offered a loan of up to $1 billion to Bharti Airtel to partly fund the Indian telecoms firm's planned stake buy in South Africa's MTN, two sources said.The government-run bank, which along with its associates controls a quarter of Indian bank loans and deposits, will join a clutch of foreign lenders interested in funding the deal that aims to create the world's third-biggest wireless group with more than 200 million subscribers and combined revenue of $20 billion. Bharti is our customer. We looked at the transaction and thought we could be part of it too, one source, w...
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