Technology Industry
Industry: Email Alert RSS FeedRCom and MTN discussing about a reverse acquisition model.(MERGERS AND ACQUISITIONS)(Reliance Communications)(MTN Group)(Brief article)
India Telecom, June, 2008
According to a report in the Wall Street Journal, Indian telecom operator Reliance Communications Ltd and South Africa-based MTN Group Ltd are holding discussions about a reverse takeover model under which, RCom would launch a buyout bid for MTN with the South African firm acquiring control of RCom.
his report said that the two firms are working towards a plan wherein MTN would takeover the second biggest cell phone operator in India and create a top-10 operator globally.
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