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| Bharti-MTN deal: Sunil Mittal meets FM |
| Press Trust of India / New Delhi Aug 24, 2009, 20:50 IST |
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Bharti Airtel Chairman Sunil Mittal today met Finance Minister Pranab Mukherjee and is understood to have discussed proposed deal with South African firm MTN.
Though its could not be ascertained as what transpired in the meeting, which comes at a time when Bharti Airtel and South Africa's MTN last week extended their merger talks for the second time till September 30.
Bharti and MTN are in exclusive talks since May for a $23-billion complex cash and share swap deal. As per the proposal, Bharti would acquire 49 per cent in MTN and in turn MTN and its shareholders would buy about 36 per cent economic interest in the Indian firm.
The two companies had also held talks more than a year ago, but that did not materialise. They have extended their exclusive talks twice this year. They had earlier extended talks by a month to August 31 and now it has been extended for the second time till September 30.
Though Mittal was not available for comments post the discussions, he had earlier indicated that there could be some minor tweaking in the deal to make it more acceptable to both sides.
Meanwhile, sources said, Mittal also met Corporate Affairs Minister Salman Khurshid.
However, details about the purpose of the meeting could not be known.
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