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To close Zain deal by April-end: Sunil Mittal
On to Bharti's quest for Zain, Bharti Enterprises top boss Sunil Mittal says, clarity on how the Bharti-Zain deal is being funded will emerge as early as next week. In an interview with CNBC-TV18's Shereen Bhan, Mittal said that he was confident of closing the deal in April itself.
Q: Some estimates and I am going to ask you this is in the ballpark of what you would be comfortable with that at the end of FY11 on account of 3G on, account of Zain and on account of Warid perhaps if you take about USD 9 billion debt that would be a comfortable figure?
A: You can do the math. I cannot give you a position of how much we will bid in the 3G. But there are two separate positions here; investments in Bangladesh will be going, there is Indian 3G and expansion pieces of Indian territories that will keep on happening and then there is Zain so you can do the math.
Q: Post the 25th what happens if you sort out all of the issues that are outstanding at this point in time when do you finally see the deal flow in that sense?
A: I see everything on a pretty fast track here and with all god's grace we can complete our positioning on the 25th or thereabouts then you just wait for the CP's and those are traditionally customary CP's of country approval and all that, which are probably I assume is progressing along side. My guess would be by end of April we should be looking good.
