Reliance Communications is one of the bidders for Zain’s African operations, two banking sources with knowledge of the situation have told us. Talks over the deal — reported to be worth $10 billion — are preliminary.
There is a queue of banks for the other big telecoms deal in the works, willing to fund Bharti Airtel’s acquisition of a stake in South Africa’s MTN, says the Economic Times. The two are in exclusive merger talks till Aug. 31.
For an overview of other stories in the papers, click here.