Ronaldo bid
Monaco are ready to make a world record €100m (£85m) bid for Real Madrid’s Cristiano Ronaldo. Ronaldo has just two years left on his contract at Madrid and is known to be disillusioned with life at the Santiago Bernabeu, at the end of his fourth season there. The Ligue 1 club, funded by Russian billionaire Dmitry Rybolovlev, have already spent over £110m this summer on Radamel Falcao of Atletico Madrid and James Rodriguez and Joao Moutinho of Porto. They are now prepared to make their boldest move yet, taking advantage of the Portuguese forward’s frustration at Madrid, and failure to sign a new deal, to tempt him to join with a world record salary offer of €20m (£17m) per year. Monaco are closely monitoring Ronaldo’s negotiations with Real Madrid over a contract extension, and if no deal is done by late July or August they will make their move.
the independent
(details on page 11)

Rupee recovers
MUMBAI, 12 JUNE: Fitch today revised India’s outlook from “negative to stable”. The instant positive impact of the late afternoon development was felt on the currency market where the beleaguered partially convertible rupee appreciated significantly in final deals against the US dollar. It ended the day up 60 paise at 57.79 against Tuesday’s closing of 58.39. sns (see pg 9)

No more telegrams
TIRUCHIRAPALLI, 12 JUNE: Smart phones, emails and SMS seem to have pushed the humble telegram service to a quiet corner with the BSNL deciding to discontinue the 160-year-old telegraph service from 15 July.
Once the main source of quick and urgent communication, the service delivered many happy and sad news to people spread all over the country. pti
         (details on page 3)