Having secured funding commitment for the now-aborted $23 billion MTN deal, Bharti Airtel is likely to look for other opportunities in South Africa and Asian markets.
According to a report by the research arm of Citigroup, although SingTel will have no direct involvement in the Bharti-MTN deal, its holdings in Bharti may reduce due to the increased size of the merged entity. '...SingTel has no direct deal involvement and that the current 30.5 per cent (effective) stake in Bharti dilutes to 19.4 per cent. SingTel likely becomes a smaller shareholder in a larger entity,' the Citigroup report said.
Sensex remained volatile through the day.
As the American Presidential elections entered its most heated phase, a senior White House adviser, who managed Barack Obama's 2008 campaign, was found to have accepted a USD 100,000 speaking fee in 2010 from an affiliate of a company doing business with Iran.
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