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Tuesday, February 16, 2010

Bharti readies debt financing for Zain buy - source

Bharti Airtel, which has offered $10.7 billion for Kuwaiti telecom Zain's African assets, is likely to finance nearly all the deal's purchase price with foreign currency loans, a person familiar with the matter said on Tuesday.Standard Chartered and Barclays are advising India's largest telecoms firm on both the merger and its funding, the person said.Television channel ET Now said Bharti was in talks with Barclays, StanChart, State Bank of India, Goldman Sachs and Nomura on funding the deal.

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