Pavel, when do we expect the dnsmasq build in RHEL 7.1? Our QA would like to verify it on openstack side, and we want to make sure our release schedules are synchronized.

It depends on when BaseOS QE will be able to test the build.

Hi,
exactly, build exists in erratum, so you can test it as you want, and it is solved as z-stream so that there is 10 bussines days I think. And also if you have also erratum for openstack, you can add dependency to ET tool, to be automatically forced to update them together.
     Regards
     Honza

Jan, thanks for the response. What are those 10 business days? Is it guaranteed somehow it won't take longer?

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory, and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

https://rhn.redhat.com/errata/RHEA-2015-0732.html