Mergers and Acquistions News
Categories: Telecoms
August 7th 2009, 16:55PM
Telecoms firm Bharti Intel has extended its merger talks with South Africa's MTN group by one month, setting the deadline at August 31st.
Both companies are in dialogues for a possible merger of the two companies, which would create the world's third-largest largest telecoms group.
Commentators have suggested that despite the slow progression of the talks, a deal is likely to emerge at the end of the timeframe as both companies have expressed a willingness to see the deal happen, although terms may yet change.
"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 and the discussions may or may not lead to any transaction," Bharti said in a statement.
However, Bharti Airtel has approached the State Bank of India to try to agree a loan of $1 billion and 50 billion rupees (totalling £628 million), India's junior finance minister Namo Narain Meena told the country's parliament.
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