Tube Investments announced acquisition of a controlling stake in Sedis Group, France through acquisition of 77% equity of its holding company, Financiere C10. The stock opened at Rs 75 and touched high of Rs 81 on the NSE. As many as 736,175 equity shares changed the hands on the counter so far. The company acquired stake directly from the financial investors in FC10 (75%) and a few other shareholders. The management shareholders will continue to hold the remaining shares in FC10 and be associated with Sedis for a period of three years. […]

Bharti Airtel Ltd.’s plan to buy most of the African assets of Kuwait’s Zain for $10.7 billion may face challenges even before it begins its due diligence. India’s largest wireless company’s plan can’t include Zain’s Celtel Nigeria B.V. unit until an ownership dispute with Econet Wireless Holdings Ltd. on that business is resolved, Econet Chief Executive Officer Strive Masiyiwa said. “Zain Nigeria is not for sale,” Masiyiwa said in an interview in Johannesburg today. Bharti’s third attempt to enter Africa highlights billionaire Chairman Sunil Mittal’s ambitions to expand overseas as competition intensifies at home, where call rates have fallen to less than a penny a minute. Mittal has tried to gain access to other fast-growing markets, including a second failed attempt last year to buy South Africa’s MTN Group Ltd. for about $23 billion. […]