MTN WANTS SPEEDY CONCLUSION TO BHARTI DEAL
South African mobile operator MTN wants to conclude a proposed tie-up with Indian partner Bharti Airtel quickly to end any doubt about the deal, chief executive Phuthuma Nhleko said.
“We want to do the deal sooner rather than later because we are really uncomfortable with the uncertainty,” Nhleko told Reuters on Thursday.
Last week, Bharti and MTN extended talks aimed at creating the world’s third-biggest mobile company for a second time, frustrating investors who wanted the deal finalized, and raising concerns its structure was too complex to succeed. Both firms agreed to extend talks to 30 September, after previously extending discussions by a month to 31 August, as they negotiate a $23 billion cash and share-swap deal aimed at an eventual full merger.