Bharti group Chief Sunil Mittal today ruled out any revision in its proposed deal to buy 49 per cent stake in South African MTN in a stock and cash deal amid reports that he may revise the offer.
"There is no occasion for that (to revise the offer)... There is enough headroom for FDI... At the moment, we will remain in talks with them (MTN)," Mittal told reporters after pre-Budget consultation with Finance Minister Pranab Mukherjee.
Mittal was replying to queries if he was going to revise the offer to MTN for the stock and cash deal.
Indian telecom giant Bharti on last Monday announced that it has opened talks for acquiring 49 per cent stake with South African MTN in an estimated $23-billion deal.
The two companies signed an agreement to hold exclusive talks for a deal that could include $10 billion in cash and $13 billion in shares and see emergence of a combined entity of $20 billion in terms of revenue and 200 billion subscribers globally.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app