Busisiwe Mkhwebane ‘allowed her important office to be used to try and resuscitate a long-dead fake news propaganda fiction’, the court ruled
The feud between India’s billionaire Ambani brothers has flared up after arbitration proceedings were started against Reliance Communications.
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.
The Ambani brothers are battling again — this time over a deal being negotiated by the younger sibling Anil to create a telecoms behemoth.
MTN said on Saturday it was still pursuing tie-up talks with Reliance Communications after a dispute erupted over who has the first right to buy the Indian cellular operator.
Anil Ambani, the billionaire chairperson of India’s Reliance Communications, may link up with private equity groups in a bid to gain a powerful foothold in sub-Saharan Africa’s biggest mobile phone operator MTN, the Financial Times said on Wednesday.
South African cellular giant MTN could pick up to a 74% stake in India’s Reliance Communications in a share-swap deal being discussed between the companies, an official said on Friday. "The stock swap is an option being considered at the moment," a Reliance official said on condition of anonymity.
India’s Reliance Communications is prepared to pay a significant premium for control of South African mobile phone group MTN, the FT Alphaville website said on Thursday. MTN and Reliance said on Monday they were in exclusive talks after India’s biggest mobile phone operator Bharti Airtel broke off talks.
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.
India’s top cellular company, Bharti Airtel, on Saturday called off merger talks with MTN, branding the ownership structure proposed by the flagship South African mobile firm ”completely unacceptable”. The merger would have created the world’s sixth-largest mobile company with a network of 130-million subscribers.
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/ 19 January 2008
In the same way as commentators refer to the 1900s as the ”American century”, the 21st century is forecast to be Asian. If the scale and speed of growth can be maintained on both sides of the Himalayas, by 2050 Beijing and Delhi will be the capitals of the world’s two richest nations.