share swap

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Bharti and MTN to join hands; complex deal structure

The promoters of Bharti Airtel and MTN have agreed upon a merger agreement. This will be a novel deal involving an Indian company and a foreign company, with a consideration involving cash and a share swap. If it succeeds, both companies will hold stakes in each other, with Bharti holding the upper hand with a 49% stake in MTN. Of course, it is paying a stiff price to get that privilege.

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