Domestic telecom giant, Bharti Airtel today called-off discussions with MTN for a 23-billion dollar merger deal, saying the South African government has rejected the proposed structure. This is the second time in just over a year that the Sunil Mittal-led Bharti Airtel has been forced to abandon talks for amalgamation of the two organisations in a complex deal thatalso required the Indian government's clearance for dual listing. Bharti said in a statement that the structure needed approval from the government of South Africa, which has expressed its inability to accept it in the current form. At the same time Bharti applauded the support given to the proposed deal by Finance Minister Pranab Mukherjee, and others.
News On AIR | September 30, 2009 8:39 PM
23 Billion Bharti Airtel , MTN merger deal called off