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RCOM chairman meets M1 CEO Mr. Mikati.(MERGERS AND ACQUISITIONS)(Anil Ambani of Reliance Communications )(Azmi Mikati of MTN Group)(Brief article)

India Telecom, June, 2008

Anil Ambani, the chairman of Reliance Communications (RCOM), which is holding reverse merger talks with South Africa's MTN, has met Azmi Mikati, the CEO of M1, in London. M1, the investment unit of the Mikati family, is the second biggest stakeholder in MTN with a 10.2 percent holding.

Newshelf 664 is MTN's biggest shareholder and holds 13.2 percent stake in the South African telecom firm. It is learnt that Mr. Mikati has backed the proposal of RCOM's reverse merger with MTN during his meeting with Mr. Ambani, who has already met MTN CEO Phuthuma Nhelko and a Newshelf 664 beneficiary. If this deal materializes, it would create a telecom major with 115 million users in 25 nations. Mr. Ambani would become the single largest stakeholder in MTN with nearly 33...

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