Mergers and Acquistions News
Categories: Telecoms
October 1st 2009, 17:00PM
The ongoing merger talks between MTN and Bharti Airtel, which would have seen the creation of the world's third-largest telecoms company, have finally been called off.
MTN advised ministers in South Africa yesterday (September 30th) that the two companies have mutually decided to terminate further discussions on the proposed $24 billion (£15 billion) deal.
Bharti had previously claimed that the deal was abandoned because it had been blocked by the South African government in its current form, although the Treasury refuted this.
The Indian firm is now likely to be investigating other, less ambitious opportunities in the South African and Asian markets, commentators have claimed.
Additionally, its shares jumped by four per cent after news emerged that the deal had been called off.
Recently, MTN was voted the most innovative brand in the telecoms sector by the Ask Africa Trust Barometer, which assesses companies based on a range of reputation drivers.
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