Mergers and Acquistions News
Categories: Telecoms
May 26th 2009, 16:07PM
Indian business group Bharti Airtel has announced that it will renew its efforts to acquire a 49 per cent shareholding in South African telecoms wireless telecoms provider MTN.
MTN and its shareholders would in turn acquire a 36 per cent economic interest in Bharti, of which 25 per cent would be held by MTN and the remainder held by its shareholders.
The companies hope to forge a leading telecoms provider group with a view to achieving a full merger of the two companies as soon as practicable.
Sunil Bharti Mittal, chairman and managing director of Bharti, said both companies stand to gain significant benefits by sharing one another's best practices and enhanced scale of operations.
"This opportunity also represents a first of its kind in developing an Indian-African initiative that would serve as a shining example of South-South cooperation," he commented.
Exclusive discussions between the two companies about the transaction will continue until July 31st 2009.
Bharti's Telesoft division, which provides integrated VAS solutions for mobile operators, last month began trading under its new name of Comviva Technologies.
Related News
Categories
- BPO (28)
- Hardware (63)
- IT Services & Consulting (173)
- Media & Information Services (112)
- Semi-Conductors (64)
- Software (140)
- Telecoms (231)
Archive
- July 2010 (21)
- June 2010 (21)
- May 2010 (19)
- April 2010 (20)
- March 2010 (20)
- February 2010 (20)
- January 2010 (20)
- December 2009 (19)
- November 2009 (19)
- October 2009 (20)
- September 2009 (20)
- August 2009 (20)