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Tuesday, June 3, 2008

R Comm, MTN may begin due diligence in 2 days
Reliance Communications and MTN are likely to begin due diligence over the next two days. The two companies may be looking at a share swap that would give MTN a majority stake in Reliance Communications and make the latter's Chairman, Anil Ambani, the largest shareholder in the South African company.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jun 18
02:00 API Weekly Crude Oil Stock 1 -10.133M -0.600M -0.370M
02:30 Westpac Consumer Survey 2 91.2 89.2
04:15 Current Account (QoQ) 1 $-2.324B $-2.200B $-7.040B Revised from $-7.037B
04:15 Current Account - GDP Ratio 1 -5.7% -6.2%
06:30 Westpac Leading Index (MoM) 1 -0.10% -0.01%
11:30 Retail Price Index (MoM) 2 1.7%
11:30 Retail Price Index (YoY) 2 4.3% 4.5%
11:30 Consumer Price Index (MoM) 3 0.2% 1.2%
11:30 Consumer Price Index (YoY) 3 3.4% 3.5%
11:30 Core Consumer Price Index (YoY) 3 3.6% 3.8%
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