Bharti-MTN deal deadline ends Wednesday

The South African government is expected to take a decision on the much-awaited $23-billion Bharti-MTN telecom equity swap cum strategic alliance Tuesday, a day before the deadline ends Wednesday.

Bharti Airtel and MTN in South Africa has been in negotiations since the 25th May - after the two talks ended last year with a large Indian Telecom rejects the proposal, which has become a subsidiary of MTN.

MTN South African government must nod to go ahead with the deal, the state-owned Public Investment Corporation (PIC) has about 20 percent of the shares in the company.

The Indian government has given a green signal to the merger with Prime Minister Manmohan Singh has promised full support.

"I had mentioned the president (Jacob) Zuma. I sincerely hope that this agreement goes forward," the prime minister at a press conference in Pittsburgh on Friday night when asked whether he had taken up the matter with the leaders of South Africa.

"I hope that Indian companies will not be subjected to discriminatory treatment," said Manmohan Singh in relation to regulatory obstacles, both in India and South Africa that have emerged in the middle of the operation.

In South Africa wants a dual listing of its shares in Bharti MTN for agreement between telecommunications companies to pass, while India does not permit such a list, since it corresponds to capital account convertibility.

Securities and Exchange Board of India (SEBI) said recently that it is necessary to make an open offer to existing shareholders would occur even if 15 percent or more of the assets of the target company was acquired by the global floating issues depository receipts.

Previously it was understood that an open offer to existing shareholders is required only if 15 percent or more of the ordinary shares - carried out in the country - is being taken over by the potential strategic partner or investor.

In the proposed agreement Bharti is planning to hold 49 percent stake in MTN, while the South African telecom major plans to acquire 36 percent of its share capital in India - 25 percent .

In a recent statement, Bharti said it would seek an exemption from the takeover norm and that the deal would be compliant with all the norms that have been put in place in India and South Africa.

Tsunami in samoa 2009

A tsunami triggered by a powerful earthquake in the South Pacific has killed at least 65 people in Samoa and over 20 in American Samoa, the reports said.Samoan authorities say at least another 145 people injured and entire villages destroyed.

American Samoa's Delegate to U.S. Congress said thousands of people homeless in the area.A magnitude 8.3 earthquake struck at 1748 GMT, the generation of 15 feet (4.5m) waves in some areas of the islands.

Islands Samoa consists of two separate entities - the nation of Samoa and American Samoa, U.S. territory - With a total population of around 250,000 people.

A tsunami warning was issued in the first game for the whole region, but canceled a few hours later.The Executive Director of the Samoa National Health Service told the BBC that 65 people were killed and 145 wounded.

President Barack Obama has declared a major disaster in American Samoa, which provides federal funds to help victims.

"Some of the areas that are only a few meters above sea level, so you can imagine the devastation," said Eni Faleomavaega, who represent American Samoa in the U.S..

"It caused serious damage to property and cars are floating everywhere."

"There would have been a warning system could provide adequate warning to people," he said.

Dr. Lemalu FIU, in a hospital in the capital of Samoa, Apia, said the death toll expected to rise as people arrived from the coastal areas.

Talutala maual, Secretary General of Samoa Red Cross, said he was traveling to the southern coast, where there were many injuries."We will not know the full extent of the damage until we get there and see with my own eyes," he said.

Ms. maual said it may take many months for people to rebuild their homes.

An Associated Press reporter said he saw "bodies everywhere" in the main hospital Lalomanu on the main Samoan island of Upolu, including at least one child.

The US Geological Service said the earthquake struck around 20 miles below the ocean floor and was followed 20 minutes later by an aftershock of magnitude 5.6.

Several foreign tourists were believed among the dead.

Philippines floods death toll rises to 240

The death toll from floods in the Philippines has risen to 240, while officials are facing an insurmountable number of victims in evacuation centers.

Three days of devastating rain caused by tropical storm Ketsana banquet through Manila, has some 375,000 survivors found shelter in over 600 schools, gymnasiums and other makeshift shelters.

Local authorities have expressed concern about the overwhelming number of displaced people are running out of food supplies and is also in dire need of clothes and medicine.

"More people are coming to the time .... do not know how long we can sustain this," said Joe Ferrer, a local official outside Metro Manila, AFP.

The number of displaced 115,000 saw an increase of three times on Monday to more than 450,000 people, while the latest death toll was over 100 more than the assessment on Monday.

President Gloria Arroyo opened an extraordinary change in the Malacanang presidential palace to give shelter to survivors of floods, described as a "once in a life-event."

"If necessary, our employees give their jobs to give more space for our fellow man," the statement said.

Monday, the government also appealed to the international community to help deal with the aggravating circumstance on the ground.

The United Nations, Japan, Vietnam, Singapore and the United States was among the first nations and organizations to respond to the call with tons of food aid and experts to guide relief efforts.