India's Bharti says no offer yet for MTN but still talking

NEW DELHI (AFP) — India's top mobile phone Bharti Airtel denied on Tuesday a media report that it had made a 19-billion-dollar offer to take control of South Africa's flagship MTN telecom operator.

Bharti Airtel, which said Monday it had begun exploratory talks with MTN on a possible takeover, issued a statement saying it wanted to "clarify it has not made any offer to acquire the whole or part of MTN."

The statement came after Britain's Financial Times quoted unnamed sources as saying Bharti had made a 19-billion-dollar bid for 51 percent of MTN.

Such a bid would trump the 13.7-billion-dollar purchase by India's Tata Steel of Anglo-Dutch steelmaker Corus in 2007, and would be the subcontinent's biggest-ever foreign takeover.

"Details of any transaction will be released promptly, if and when, the parties reach agreement," added ...