Bharti, MTN merger talks could wind up this weekend: report

0 Comments | AFP, May, 2008

NEW DELHI (AFP) — Merger talks between India's biggest mobile phone services firm, Bharti Airtel, and South Africa's flagship MTN Group could wind up this weekend, a report said on Saturday.

Bharti and MTN, Africa's biggest cellular operator, were putting finishing touches to a funding structure for the proposed merger, India's Mint newspaper reported, quoting unnamed people who it said were close to the discussions.

A Bharti official declined to comment on the report.

A merged group would create the world's sixth largest mobile company with a network of 130 million subscribers -- 68 million from MTN and 62 million from Bharti -- that would dominate two of the world's fastest growing cellular markets -- India and Africa.

Johannesburg-based MTN may...