MTN Group and India’s Reliance Communications have extended exclusive talks on a potential combination to create a top-10 global telecom group.
Reliance Communications has only days to reach an agreement for a tie-up with MTN, but a face-off between the Ambani brothers could scupper a deal.
Reliance Communications, India’s number two mobile operator, has entered into exclusive negotiations for a tie-up with the MTN Group, knocking its shares down 4%. Reliance was quick to fill a void left after its bigger domestic rival, Bharti Airtel, pulled out of talks at the weekend aimed at taking control of MTN.
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/ 10 January 2008
India’s Tata Motors unveiled the world’s cheapest new car on Thursday, bringing car ownership closer for millions of poorer consumers in emerging markets but raising environmental concerns. The four-seater Nano, with an engine of 625cc, will have a dealer price of 100 000 rupees ( 500), about half the cost of the cheapest car on today’s market.
Only 10 years ago, Tata Motors unveiled its first car, a hatchback, that established the truck maker’s credentials as a car maker. On Thursday, the company unveils a car that will sell for just  500, less than half the cheapest car on the market.