Airtel Courting MTN in Merger Talks

It appears that, despite breaking off negotiations last year, Bharti Airtel is interested in partnering with MTN again. Forbes reports…

NEW DELHI – Exactly a year after he called off a merger between his flagship Bharti Airtel, India’s leading mobile phone operator, and MTN, billionaire Sunil Mittal is having a second stab at adding the South African company to his global telecommunications empire.

In a press statement Monday, Bharti Airtel said it was exploring a potential deal to acquire 49% of MTN, which in turn would receive a 36% stake in Bharti. Commenting on the proposal, Mittal said, “We see real power in the combination and we will work hard to unleash it for all our shareholders.” Both sides have given themselves until July 31 to reach an agreement.