Bharti Airtel, is bidding for 51% of South African telecommunications group MTN, putting the value of the firm at $37-billion.
London's Financial Times reports that Bharti has tabled a bid for MTN at R165 per share and has secured $12-billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
MTN says that it's in talks with Bharti. It has described the talks as exploratory in nature and has advised shareholders to exercise caution. (SABC News)