Market News
-- o French telecom major Orange has signed a deal with Bharti Airtel International (Netherlands) BV for acquiring its operations in two African countries, Burkina Faso and Sierra Leone. The companies did not reveal the size of the deal but analysts said it could be worth $800-900mn. After striking Wednesday's deal for two countries, Airtel has now operations in 15 countries in Africa.
o Rating agency Standard & Poor's downgraded Tata Steel by a notch to 'BB-' from 'BB', citing weak financial performance and high debt leverage, and expects the company's operating performance to improve gradually beginning next financial year. The rating agency also lowered its UK's business rating to 'B+' from 'BB-' as pick-up in demand in Europe has been sluggish, imports in Europe have increased and remain competitively priced, and fixed costs at some of its facilities remain high.You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
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