India's Bharti says in exploratory' talks with SAfrica's MTN
AFP, May, 2008
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NEW DELHI (AFP) — India's top mobile phone firm Bharti Airtel said Monday it had launched "exploratory" talks with Africa's biggest cellular operator MTN Group, a move which could lead to a possible takeover offer.
The announcement followed media reports last month that Bharti, led by billionaire founder-chairman Sunil Bharti Mittal, was mulling a bid for the South Africa-based MTN.
MTN has 68.2 million subscribers in more than 20 countries. Its largest operations are in South Africa, Nigeria and Iran.
"Bharti Airtel Ltd has entered into an exploratory discussion with MTN Group Ltd, South Africa," Bharti said in a brief statement issued late Monday.
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"Current discussions are still at an early stage, are exploratory in nature and may or may not lead to any transaction," the company said.
Bharti Airtel is more than 30 percent owned by Singapore's SingTelNet.
A Bharti spokesman told AFP ...
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