Banks left in the dark as Bharti, MTN delay merger talks

03 Aug 2009

India’s Bharti Airtel and MTN, Africa’s largest mobile phone company, extended their exclusive $23bn merger talks last Friday for a further month, prolonging the uncertainty among bankers who are discussing a three-pronged financing package to support the deal.

"No decisions or agreement to acquire any shares or implement the transactions outlined above have been made by the boards of either Bharti or MTN," read a statement by India’s biggest mobile operator on Monday. "And the discussions may or may not lead to any transaction."

The postponement delays ...

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