Merger Talks Between MTN And Reliance Fail

July 2008 | Top Stories

Talks between India's Reliance Communications and South African telecommunications company MTN have failed. MTN, which is Africa's largest mobile operator, has been the target of two acquisitive Indian companies over the last few months. MTN was first approached by Bharti Airtel in May. Bharti Airtel had sought to acquire a 51% stake in MTN, but talks fell through after the company accused the latter of changing certain agreed terms that would have led to a marriage of the two companies operations. The vacancy led to the entrance of Reliance Communications on May 26.

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