"A consortium led by Indian billionaire Anil Ambani is considering taking a majority stake in South African mobile operator MTN to help stave off a potential legal challenge from his elder brother, Mike's Ambani, to the deal that has been under discussion," a report in Financial Times said.
The report quoted an unnamed person familiar with the deal that a special purpose vehicle controlled by Anil Ambani with co-investment from global private equity and Middle East sovereign wealth funds would own 51 per cent of MTN under the proposed new structure.
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