Bharti, MTN extend deal talks deadline | business | Hindustan Times
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Bharti, MTN extend deal talks deadline

Bharti Airtel and South Africa’s MTN on Monday extended the deadline to for exclusive talks for their proposed merger deal by another one month, reports Manoj Gairola.

business Updated: Aug 03, 2009 23:05 IST
Manoj Gairola

Bharti Airtel and South Africa’s MTN on Monday extended the deadline to for exclusive talks for their proposed merger deal by another one month, saying discussions are continuing. The new deadline is August 31.

Board-level differences on the complex transaction have held up the $23 billion (Rs. 1,12,700 crore) two-way deal, said sources familiar with the deal, who added the talks were moving forward. However, the two firms said in a joint statement that the talks “may or may not lead to any transaction.”

Hindustan Times had first reported on July 22 that the deadline between MTN and Bharti Airtel would be extended.