Bharti/MTN: A Possible Blueprint For Tie-Ups

After deal talks failed last year, Bharti Airtel of India and MTN Group of South Africa have returned to the deal table. If successful this time around, the two mobile telecoms would combine to create the world's third-largest telecommunications company, with over US$20bn in annual revenue and more than 200mn subscribers. Reportedly the companies have agreed on a stock and cash swap which would see Bharti acquire 49% of MTN for US$2.9bn in cash and shares, and MTN acquire 36% of Bharti by paying US$10.35 and half of a newly issued Bharti share for each MTN share it acquires.

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