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Industry: Email Alert RSS FeedRCOM's future looks bright irrespective of its deal with MTN.(BUSINESS)(Reliance Communications)(MTN Group)
India Telecom, June, 2008
Even as South Africa-based MTN Group is panning to acquire a majority stake in India's second largest private telecom operator Reliance Communications (RCOM), analysts reckon that the telecom firm's future looks very bright. The two firms had announced last week that they had entered into exclusive talks for discussing about a suitable deal.
According to sources close to the development, the firms are eyeing a share swap wherein the South African company would acquire a majority holding in RCOM while Anil Ambani, who owns 66 percent of the Indian operator, would become the biggest stakeholder in MTN. Analysts believe that any stake in RCOM is a decent deal as the telecom operator's profits, business and share price are likely to surge ahead in the near future....
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