The chairman of Bharti Airtel, India's leading mobile operator, will resign from the board of Standard Chartered with effect from July 31, according to a company statement on Tuesday.
Sunil Bharti Mittal, who has been a non-executive director of Standard Chartered since August 2007, said he was resigning as he found it difficult to balance involvement with Bharti Enterprises with his role of a bank board member.
Bharti Enterprises is the unlisted parent of Bharti Airtel.
Standard Chartered is advising Bharti in a deal that could lead to a merger with South Africa's MTN Group, creating the world's No. 3 wireless group with more than 200 million subscribers and combined revenue of $20 billion.