India Bharti Airtel and Africa MTN Merger Talks
Reported by TheStar, Indian Bharti Airtel and African MTN Group Ltd has continued their merger talks again.
Bharti would acquire a 49 percent stake in MTN, and MTN and its shareholders would acquire a 36 percent stake in Bharti through a complex cash and equity deal, the statement said.
The two companies, both leaders in their respective markets, have agreed to pursue exclusive discussions until July 31.
Talks are still at an early stage, but if the deal goes through, the merger would result in a company with over $20 billion in annual revenues and a customer base of over 200 million, the statement said.
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