Bharti, South Africa’s MTN extend pact talks to Sep 30

October 1st, 2009 MUMBAI - The shares of Bharti Airtel opened strong Thursday despite the firm having to terminate the proposed $24-billion equity-swap-cum strategic tie-up with South Africa's telecom major MTN to create the world's third largest mobile phone firm. The company's shares opened at Rs.435 Thursday, against the previous day's close at Rs.418.55, and soon shot up to a high of Rs.467, data with the Bombay Stock Exchange (BSE) showed.

September 30th, 2009 MUMBAI - Talks over a proposed partnership between Bharti Airtel and South Africa's MTN have been called off, with Bharti Airtel saying that the South African government is not ready to "accept the deal in its current form." In a statement issued on Wednesday, Bharti Airtel said that it says it hopes government will "review its position in future". MTN says: "Information has been released in India by Bharti Airtel Limited relating to the potential transaction between MTN and Bharti.

September 30th, 2009 NEW DELHI - India's telecom major Bharti Airtel and South Africa's MTN Wednesday terminated their talks for a proposed $24-billion cash-cum-equity deal that could have created the world's third largest mobile phone entity. According to Bharti, the proposed deal - which even had the backing of Prime Miniter Manmohan Singh - was called off after the South African authorities declined to accept certain regulatory constraints on the part of both sides.

September 22nd, 2009 MUMBAI - The scrip of telecom major Bharti Airtel fell 3.28 percent on the Bombay Stock Exchange (BSE) at end of trade Tuesday following reports that the company may have to sweeten its offer for South African telecom company MTN. According to reports, Bharti has offered MTN a 27 percent of its stake for the same money instead of the 25 percent proposed earlier.

September 22nd, 2009 MUMBAI - The scrip of telecom major Bharti Airtel fell about 3 percent on the Bombay Stock Exchange (BSE) on reports that the company may have to further sweeten its offer for South African telcom company MTN. According to reports, Bharti has offered MTN a 27 percent of its stake for the same money instead of the 25 percent proposed earlier.

August 20th, 2009 NEW DELHI - Bharti Airtel and South Africa's MTN Thursday said they were extending their talks for a proposed $23-billion financial alliance till Sep 30, with no final pact in sight even as the revised deadline of Aug 31 approaches. "Discussions between the parties regarding the potential transaction continue to progress satisfactorily and the parties have accordingly agreed to extend the exclusivity period until September 30, 2009," Bharti Airtel said in a regulatory statement to the Bombay Stock Exchange (BSE).

August 3rd, 2009 NEW DELHI - Bharti Airtel and South Africa's MTN Monday said they were extending their talks for a proposed $23-billion financial alliance till Aug 31, having failed to reach a pact within the earlier deadline that had expired Friday. "No decision or agreement to acquire any shares or implement the potential transaction outlined above has yet been made by the boards of either MTN or Bharti," the South African telecom company said in a statement.

August 3rd, 2009 NEW DELHI - Bharti Airtel and South Africa's MTN Monday said they were extending their talks for a proposed $23-billion financial alliance till Aug 31, having failed to reach a pact within the earlier deadline that had expired Friday. "No decision or agreement to acquire any shares or implement the potential transaction outlined above has yet been made by the boards of either MTN or Bharti," the South African telecom company said in a statement.

July 31st, 2009 NEW DELHI - Indian telecom major Bharti Airtel and South African telecom giant MTN are yet to finalise their much-awaited merger deal, a senior official said here Friday. There is nothing as of now, a Bharti spokesperson said adding the company would update markets only Monday.

July 23rd, 2009 NEW DELHI - India's leading telecom operator Bharti Airtel is still in talks with South African telecom giant MTN for a possible merger, a top official said Thursday. "Talks are going on between Bharti Enterprises, the parent of Bharti Airtel, and South Africa's MTN Group to form a global business combination," Akhil Gupta, managing director of Bharti Enterprises, told reporters.

May 30th, 2009 AMRITSAR - The Bharti group Saturday expressed confidence that it will seal the proposed $23-billion deal with South African telecom giant MTN, after restarting negotiations that had collapsed last year. The two groups are discussing options under which Bharti will acquire 49-percent stake in MTN and the South African company, along with its shareholders, will buy 36-percent equity in the Indian company, the two firms had announced May 25.

May 27th, 2009 JOHANNESBURG - After the initial enthusiasm over the $23-billion telecom deal proposed by India's Bharti Airtel and South Africa's MTN, analysts have turned cautious, even fearing if the transaction presented a fair value for shareholders. Their fears were further fuelled after MTN shares fell 4.46 percent and those of Bharti closed lower for two consecutive days after the initial interest shown by the announcement Monday.

May 25th, 2009 NEW DELHI - 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.

May 25th, 2009 NEW DELHI - India's Bharti Airtel and South African telecom giant MTN have resumed negotiations that had collapsed last year to buy stakes in each other's company in a deal worth some $25 billion. The two groups are discussing options under which Bharti will acquire 49-percent stake in MTN and the South African company, along with its shareholders, will buy 36-percent equity in the Indian company, the two firms announced Monday.

May 25th, 2009 NEW DELHI - India's Bharti Airtel and South African telecom giant MTN have resumed negotiations that had collapsed last year to buy stakes in each other's company in a deal worth some $25 billion. The two groups are discussing options under which Bharti will acquire 49-percent stake in MTN and the South African company, along with its shareholders, will buy 36-percent equity in the Indian company, the two firms announced Monday.