IN BRIEF (Page 17)

Telecom talks

South Africa's MTN Group has started talks with Indian mobile operator Reliance Communications that could create a $66 billion emerging markets telecoms group.

Indian number two Reliance quickly stepped into the void after bigger rival, Bharti Airtel, pulled out of talks with MTN at the weekend aimed at taking control of sub-Saharan Africa's biggest mobile operator.

Takeover offer

Zodiak Television AB, an independent television production company, received a 1.27 billion-krona ($216 million) takeover offer from privately held De Agostini Communications SpA and two current shareholders.

Goldcup, a company controlled by the bidders, offered 40 kronor in cash for each Zodiak share, according to a statement distributed by Cision yesterday.

Recession claim

Warren Buffett, whose business and investment acumen has made him one of the world's wealthiest men, was quoted in an interview published Sunday as saying the US economy is already in a recession.

Asked by Germany's Der Spiegel weekly whether he thinks the US could still avoid a recession, he said that as far as the average person is concerned, it is already here. "I believe that we are already in a recession," Buffet was quoted by Spiegel as saying.

Euro hopes

Poland's finance minister Jacek Rostowski said yesterday he expects the country will meet the inflation requirement for joining the euro in 2009, but he held back from setting a date for adopting the common currency.

The criteria for joining the euro include low and controlled inflation along with healthy public finances and a budget deficit below 3 percent.

Agencies

(China Daily 05/27/2008 page17)