The Dubai government unveiled plans to recapitalise its indebted Dubai World flagship and repay Nakheel bonds in full, injecting what it said was $9.5 billion in new funding, but without new aid from Abu Dhabi. Read the Reuters story here.
Bharti Airtel looked set to wrap up its $9 billion deal to buy most of Kuwaiti telecom group Zain’s African assets, giving India’s top mobile operator a foothold in the frontier market after two failed attempts to buy South Africa’s MTN. Read the Reuters story here.
For more on these and the rest of the latest deal-related news from Reuters, click here.
In M&A and corporate finance news reported by other media on Wednesday:
German carmaker Daimler AG and France’s Renault are close to deciding on a wide-ranging strategic partnership that would include a swap of small equity stakes, the Financial Times said, citing unnamed sources close to the situation.