South Africa's MTN Group Ltd said on Monday it was still in discussions with Bharti Airtel
(BHARTIARTL.BO : 799.05 +15.45) but gave no further details about the talks, which could lead to
a full merger.
MTN said in a cautionary announcement, which it is obliged to issue under JSE stock exchange
rules, that talks were still in progress.
MTN, Africa's biggest cell phone operator by subscribers, and Bharti, India's leading cellular firm,
have revived talks aimed at creating the world's No. 3 wireless group with more than 200 million
subscribers and combined revenue of $20 billion.
The chief executive of MTN's biggest shareholder, state pension fund Public Investment
Corporation (PIC), told Reuters in June the fund supported the talks but said there was "room for
improvement" on the price
Source: http://in.biz.yahoo.com/090707/50/batuin.html
(BHARTIARTL.BO : 799.05 +15.45) but gave no further details about the talks, which could lead to
a full merger.
MTN said in a cautionary announcement, which it is obliged to issue under JSE stock exchange
rules, that talks were still in progress.
MTN, Africa's biggest cell phone operator by subscribers, and Bharti, India's leading cellular firm,
have revived talks aimed at creating the world's No. 3 wireless group with more than 200 million
subscribers and combined revenue of $20 billion.
The chief executive of MTN's biggest shareholder, state pension fund Public Investment
Corporation (PIC), told Reuters in June the fund supported the talks but said there was "room for
improvement" on the price
Source: http://in.biz.yahoo.com/090707/50/batuin.html
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