Africa - The Wireless Frontier Message Board

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Technology Stocks : Africa - The Wireless Frontier

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To: Lynn who wrote (131)	5/30/2008 10:06:40 AM
From: Lynn	Read Replies (1) of 180

Reliance May Pay 200 Rand a Share for MTN, Daily Telegraph Says By Carli Lourens May 29 (Bloomberg) -- Reliance Communications Ltd. may offer as much as 200 rand ($26.25) a share for MTN Group Ltd., according to a blog by a Daily Telegraph reporter on the newspaper's Web site, citing sources that weren't identified. Reliance may obtain financing from India's ICICI Bank Ltd. and France's Natixis SA for the $48 billion cash-and-shares bid for Africa's biggest mobile-phone company, the report said. The offer may comprise $30 billion of Reliance shares and $18 billion in cash, the blog said, adding Reliance is being advised by Lazard Brothers. MTN and Reliance said on May 26 they had entered into exclusive talks. MTN rose 5.58 rand, or 3.9 percent to 147.97 rand as of 3:39 p.m. in Johannesburg, giving the company a market value of 276 billion rand. MTN spokeswoman Pearl Majola didn't reply to a message left on her mobile phone today by Bloomberg News. To contact the reporters on this story: Carli Lourens in Johannesburg at clourens@bloomberg.net Last Updated: May 29, 2008 10:25 EDT bloomberg.com

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