WHY BHARTI-MTN BROKE UP?
A mega transnational deal and over USD 20 billion transaction, a new south-south alliance, the creation of the world’s third largest telecom firm, two public attempts, unprecedented government lobbying, a combined 12 months of negotiations, thousands of hours in legal fees and yet this deal came unstuck.
Bundeep Singh Rangar, Chairman of IndusView; Lauri-Lynn Pursall, Partner of Mayer Brown; and Vivek Gupta, Partner at BMR Advisors discuss what went wrong in the Bharti-MTN deal
CNBC-TV18
Showing posts with label Dual listing. Show all posts
Showing posts with label Dual listing. Show all posts
Monday, October 05, 2009
Friday, September 25, 2009
GOVT BACKS BHARTI-MTN DEAL
Finance minister Pranab Mukherjee said on Wednesday that the Indian government backs the proposed merger of Bharti Airtel Ltd and South Africa’s MTN Group Ltd and it was looking into legal aspects related to a dual listing.
“Our position on this is very clear. In the first week of September, I had met the South African finance minister on the sidelines of the G-20 finance ministers’ summit in London, and told him that we are in favour of the deal,” Mukherjee said in Kolkata. “As far as dual listing is concerned, that is linked with full (capital account) convertibility. This has legal aspects, which we are looking into.”
On whether India would alter legislation to allow the record $24 billion (Rs1.15 trillion) deal, the finance minister said: “We welcome the deal but in the context of the law of land. There are some legal implications, which are being looked into.”
Livemint
Finance minister Pranab Mukherjee said on Wednesday that the Indian government backs the proposed merger of Bharti Airtel Ltd and South Africa’s MTN Group Ltd and it was looking into legal aspects related to a dual listing.
“Our position on this is very clear. In the first week of September, I had met the South African finance minister on the sidelines of the G-20 finance ministers’ summit in London, and told him that we are in favour of the deal,” Mukherjee said in Kolkata. “As far as dual listing is concerned, that is linked with full (capital account) convertibility. This has legal aspects, which we are looking into.”
On whether India would alter legislation to allow the record $24 billion (Rs1.15 trillion) deal, the finance minister said: “We welcome the deal but in the context of the law of land. There are some legal implications, which are being looked into.”
Livemint
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