Bharti Airtel, MTN Yet to Finalize Deal

by CXOtoday Staff    Jul 30, 2009

The merger talks between Bharti Airtel and South Africa’s MTN have not been finalised yet, Corporate Affairs Minister Salman Khurshid informed parliament on Thursday.

The merger talks are due to end on July 31

The merger deal when finalized will create an emerging markets giant with more than 200 million customers across India, Africa and the Middle East. Bharti Airtel is expected to hold 49% equity in the merged entity with MTN and its shareholders taking a 36% stake.

Khurshid said that any proposal to change the equity shareholding of the company would need government approval.

The two companies are now expected to reach an agreement by end-August.