|
| No stance on Bharti-MTN deal, says South African govt |
| Press Trust of India / New Delhi Sep 02, 2009, 21:00 IST |
|
The South African government today said it has not taken any stance on the proposed Bharti-MTN merger deal as talks between the companies are still going on.
"We wish to put it on record that the Department (of Communications) and/or the government have not taken a stance on the issue as discussion between the parties are ongoing.
"It is, therefore, incorrect that the government has offered its support for the proposed tie-up at this stage as reported in the media," a Department of Communications', South Africa, spokesperson told PTI from Pretoria.
The Communications Department's comments come in the wake of reports that the South African government supports the Bharti-MTN deal.
The proposed transaction worth $23 billion envisages Bharti taking 49 per cent in MTN while the South African entity along with its shareholders would have a 36 per cent economic interest in the Indian firm.
The companies have extended their exclusive talks period till September 30.
Earlier in the day, Bharti CEO Manoj Kohli, replying to a query if by September 30 all issues related to the transaction would be resolved, said that the process is on and "let's wait".
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
