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Rachna JainAruni Nayak

Shilpi Chanda

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INTRODUTION OF BHARTI AIRTEL

MISSION OF THE COMPANY

We at Airtel always think in fresh andinnovative ways about the needs of our

customers and how we want them tofeel. We deliver what we promise and goout of our way to delight the customerwith a little bit more

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GROUP OF COMPANIES BHARTI AIRTEL

BHARTI TELETECH

TELECOM SEYCHELLES

COMVIVA TECHNOLOGIESLTD

FIELDFRESH FOODS PVT.LTD

BHARTI RETAIL

BHARTI AXA GENERAL

INSURANCE

BHARTI INFRA TEL

BHARTI AXA LIFE

INSURANCE

BHARTI AXA

INVESTMENT MANAGERS CENTUM LEARNING

LIMITED

JERSEY AIRTEL

GUERNSEY AIRTEL

BHARTI FOUNDATION

BHARTI REALTY

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STRENGTH OF BHARTI AIRTEL Largest Telecom Player in India - ~80Mn, 22.6%

Market Leader Strong Leadership Sunil Bharti Mittal Recognized Globally Pan India Presence

Strong Financials Focus on Core Activities Outsource the rest Strong Brand Image Marketing Team Strong New Business Development team

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Introduction of MTN

Founded in 1994, MTN operates in 21 countries.

The bulk of its subscribers are in South Africa,Nigeria, Iran, Ghana, Syria, Cameroon, and Uganda.tries in Africa and the Middle East.

It is Africa's largest mobile phone operator bysubscribers.

MTN, controlled by the Lebanon-based Mikati familyand a trust representing senior management andemployees.

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MTN BlackBerry

MTN International Roaming

MTN Banking

MTN EVD

MTN Mobile TV

MTN Me2U

MTN CallerTunez

MTN Zone

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Strength of MTN

Largest Telecom Player in South Africa

Strong Financials

Focus on Core Activities Outsource the rest

Strong Brand Image

Marketing Team Strong New Business Development team

Financial performance and continuedinvestments

Client relationship management

Focus on R&D and innovation to create newservices

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DEAL BETWEEN

&

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BHARTI - MTN DEAL

SUNIL BHARTI MITTAL CEO & M.D

BHARTI AIRTEL, ASIAS LEADING INTEGRATED TELECOM SERVICESPROVIDER HAS 100 MILLION CUSTOMERS IN INDIA AND SRI LANKA

VALUED AT $34 BILLION.

PHUTHUMA NHLEKO CEO

MTN, PRESENT IN AFRICAS KEY MARKETS, SUCH AS NIGERIA, CAMEROON,GHANA, ZAMBIA AND UGANDA ALSO HAS ABOUT 100 MILLIONSUBSCRIBERS VALUED AT $ 27 BILLION.

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THE PROPOSED $23-BILLION MEGA DEAL BETWEEN BHARTI AIRTEL ANDSOUTH AFRICAS MTN WOULD BE WORLDS BIGGEST DEAL.

INDIAS BIGGEST CROASS BORDER DEAL ALMOST TWICE THE SIZE OF TATASTEELS $13 BILLION BUY OF CORUS IN 2006.

MTN TO TAKE 25 % STAKE IN BHARTI FOR $2.9 BILLION PLUS NEW SHARESEQUAL TO ABOUT 25 % OF THE CURRENT SHARES ON ISSUE. MTNSHAREHOLDERS TO TAKE ANOTHER 11 % OF BHARTI.

BHARTI TO BUY ABOUT 36 % OF MTN SHARES AT $10.44 EACH, PLUS HALFTHE NEWLY ISSUED BHARTI GLOBAL DEPOSITARY RECEIPTS FOR EACH

MTN SHARE.

THAT AND THE SHARES MTN ISSUES FOR ITS STAKE IN BHARTI WOULDTAKE THE INDIAN FIRMS HOLDING TO 49 % OF MTNS ENLARGED

CAPITAL. BHARTI WOULD BE ABLE TO FULLY CONSOLIDATE MTN S

ACCOUNTS, AND MTN GETS REPRESENTATION ON THE BHARTI BOARD.

ABOUT THE DEAL

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Benefits of the deal

Both Firms Exposure To New Markets Ripe For Growth

Full Cost Savings

Allow for Technology Sharing

Provide The Financial Muscle For More Expansion

Bigger Market Exposure

Access To Innovative Products

Better Buying Power,