No offer to bid for MTN: Mittal

According to market buzz, the South African company is likely to hold a board meeting on May 5 to look into the preliminary offers of the prospective bidders.

"How can we make a bid ... Nobody has invited us. We are always open to opportunities. Bankers keep on presenting opportunities from time to time and they are evaluated from time to time. When appropriate time comes and evaluation results in making us a move, I'm sure we will do it," Bharti Group Chairman Sunil Mittal said replying to a query in this regard on the sidelines of Bharti Airtel-IFFCO conference.

Asked if Bharti is interested to bid for the company he said, "it is a hypothetical question to ask what are our interests.

Who is interested in us." Terming the talk of Bharti bidding for MTN as "pure speculation", Mittal said, "at this point I have nothing to report on any offer."

Meanwhile, Bharti's arch rival Reliance Communications which is also reported to have expressed interests for bidding for MTN, saw its shares plunging.

A company spokesperson said, "Reliance Communications has substantial international operations, and has recently acquired telecom licences in Uganda and Srilanka. The company continues to evaluate various growth opportunities globally, both organic and inorganic, on an ongoing basis."

Shares of Bharti was down marginally at Rs 898.60, while the Anil Ambani group company's scrip fell by 3.20 per cent to Rs 561.20 per cent at the close of the market.