India Inc hopeful of Bharti, MTN deal in future
India’s biggest cross-border deal has been disconnected for the second time after Bharti and South African telecom major MTN called off their talks to form world’s third largest telecom company.
The talks were called off after the deal got stuck over the issue of dual-listing or listing in both countries, which would have retained the national identity of MTN as a South African company. But Indian laws do not allow dual listing.
The by listing the company both in India and South Africa.
“Bharti and MTN have decided to disengage from their discussions. This structure needed an approval from the government of South Africa which has expressed its inability to accept it in the current form,” Bharti says in a statement on Wednesday after the talks were called off.
original post: IBNLive