Bharti Airtel-MTN $ 24 billion deal called off
“Bharti and MTN have decided to disengage from their discussions when the exclusivity period ends on September 30, 2009. This (deal) structure needed an approval from the government of South Africa, which has expressed its inability to accept it in the current form. In view of this, both companies have taken a decision to disengage from discussion.
The announcement pulled down MTN’s shares by 5.5% on the Johannesburg Stock Exchange (JSE) before the South African company requested a suspension of trade in the stock for the rest of the day.
Read this Forbes interview with Sunil Mittal on his ambitions plans.
Source: economictimes
“Bharti and MTN have decided to disengage from their discussions when the exclusivity period ends on September 30, 2009. This (deal) structure needed an approval from the government of South Africa, which has expressed its inability to accept it in the current form. In view of this, both companies have taken a decision to disengage from discussion.
The announcement pulled down MTN’s shares by 5.5% on the Johannesburg Stock Exchange (JSE) before the South African company requested a suspension of trade in the stock for the rest of the day.
Read this Forbes interview with Sunil Mittal on his ambitions plans.
Source: economictimes