No agreement yet between Bharti Airtel and MTN, with the deadline having passed for exclusive talks, the two companies have decided to extend exclusive discussions until August 31st 2009. We've just received a statement from the company: This is further to our media statement dated May 25, 2009 on renewal of discussions regarding a potential transaction between Bharti Airtel Limited and MTN. Bharti and MTN had entered into an exclusivity agreement regarding the potential transaction until July 31, 2009. As discussions between the parties regarding the potential transaction are continuing, both parties have agreed to extend the exclusivity period up to August 31, 2009. No decisions or agreement to acquire any shares or implement the transactions outlined above have been made by the Boards of either Bharti or MTN and the discussions may or may not lead to any transaction. The structure and terms of the potential transaction may be adjusted to reflect further discussions between the parties. The proposed scheme of agreement under discussion is as follows: – MTN would acquire approximately 25% interest in Bharti for approximately $2.9 billion in cash and newly issued shares of MTN equal to approximately 25% of the currently issued share capital of MTN. – Bharti would acquire approximately 36% of the currently issued share capital of MTN from MTN shareholders for a consideration comprising ZAR 86.00 (around $10.36) in cash and 0.5 newly issued Bharti shares in the form of Global Depository Receipts for every MTN share acquired. This, in combination with…
- RBI increases UPI and recurring transaction limits for certain categories December 8, 2023
- The Quantum Hub discusses concerns on age verification and children’s data processing under India’s data protection law December 8, 2023
- India’s central bank to set up cloud facility for financial sector December 8, 2023
- Navigating the Complexities of Open Source AI: Insights from Carnegie India Summit December 8, 2023
- Supreme Court Dismisses Plea by Foundation for Media Professionals on Internet Shutdowns December 8, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...