>Bharti + MTN - FAQs (CITI)

• Current and proposed shareholding structure?
• What are the key shareholder and regulatory approvals that would be needed?
• Will Bharti be issuing new shares to be traded as GDRs in JSE?
• Why is Bharti doing this deal? What are the synergies?
• Does the 74% foreign ownership limit in India impact Bharti in any way?
• Will/Can MTN be given the 25% stake at the Bharti parent level?
• Why has the Bharti stock price been weak since the deal was announced? Who has been selling?
• What should MTN shareholders be thinking about into the scheme of arrangement?
• What should Bharti shareholders be thinking about?

To see full report: BHARTI AIRTEL