LONDON (Thomson Financial) - Fitch Ratings said Bharti Airtel Ltd. acquiring
stake in South African telecom company MTN Group Ltd. could result in the
India-based telecom company's 'BB+' rating coming under downward pressure.
Noting recent comments by Bharti where the company said it was in
preliminary talks with MTN, Fitch said if Bharti ends up acquiring a majority
stake in MTN, a rating action will depend on the extent of debt used to finance
the acquisition.
The outlook on Bharti Airtel's rating is stable.
Fitch has a 'A+zaf' natinoal long term rating on MTN Group.
TFN.newsdesk@thomson.com
ssa
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