Bharti, South African telecom firm resume talks to swap stakes

May 25th, 2009 - 12:41 pm ICT by IANS  

New Delhi, May 25 (IANS) India’s Bharti Airtel and South African telecom giant MTN have resumed talks to hold stakes in each other’s companies, restarting the negotiations that had collapsed last year.
Thr two groups are discussing options under which Bharti will acquire 49-percent stake in MTN and the South African company will buy 36-percent stake in the Indian company, the two firms announced Monday.

“Bharti and MTN have agreed to discuss the potential transaction exclusively with one another until July 31, 2009,” an official statement issued by the two companies said.

“Potential transaction between Bharti and MTN will create a leading telecommunications service provider group, aligning Bharti’s market-leading Indian business with MTN’s market-leading African and Middle Eastern operations.”

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