Merger Talks Continue to be Satisfactory: Bharti

by CXOtoday Staff    Aug 20, 2009

India’s leading telecom operator Bharti Airtel and South Africa’s MTN Group have set September 30 as the deadline for their renewed merger talks which could create the world’s third-largest mobile operator.

This is the second time the two companies have extended their merger talks since the resumption of negotiations in May. The first extension expired on August 31.

In a press statement, Bharti Airtel said the discussions with MTN continued to progress satisfactorily: "No decision or agreement to acquire any shares or implement the potential transaction outlined above has yet been made by the boards of either Bharti or MTN and the discussions may or may not lead to any transaction."

If the revived talks between Bharti and MTN fructify, the merged entity would create an emerging markets giant with more than 200 million customers across India, Africa and the Middle East.