A deal between Bharti Airtel and South Africa’s MTN to create a transcontinental mobile behemoth may miss the stipulated deadline even as a team of officials from the Indian company travels to Johannesburg next week to try and crystallise financial terms that could include a sweetened offer. All efforts are on to seal the $24-billion deal by the last week of this month, but it may take a few days more as the two sides attempt to satisfy South African regulatory queries, mainly related to the management structure, two people with knowledge of the situation said. […]

Biotechnology company Avesthagen Ltd plans to raise Rs 850-950 crore next year, and this includes a revived public issue plan and overseas funds. Of this, the company would raise Rs 600-700 crore from an initial offer in the first half of 2010. “[Funding] is going to be on two channels. In addition, we are also looking at raising a PE/pre- IPO overseas fund of $50 million [around Rs 250 crore], perhaps early next year, and have appointed US investment bankers to look into it,” Dr Villoo Morawala-Patell, Founder and Chairman and Managing Director of Avesthagen, told Business Line.Dr Patell said she would retain the promoter stake of 32 per cent. Of the ten-odd investors, private equities hold 28 per cent. They include ICICI Ventures, Fidelity and New York Life Investment Management India Fund. […]