Barclays Capital, Calyon and Lehman Brothers are close to arranging the financing behind Reliance Communications’ takeover bid for MTN, Africa’s biggest mobile phone company, following the collapse of talks between MTN and Bharti Airtel. Reliance, India’s second largest mobile phone operator, began discussing a possible merger with MTN only this week. Bankers involved in the financing say talks are at a very early stage. One banker said it was very likely that the banking group would be enlarged before any financing package was sealed.
The Euromoney Institutional Investor
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