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Dhirubhaism
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Date Time:07-01-2009 04:47
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Reliance Communications in Talks Again With MTN, Standard Says
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Reliance Communications Ltd., Indian billionaire Anil Ambani’s mobile-phone company, is in talks to acquire a stake in MTN Group Ltd., the Business Standard reported on its Web site, citing people it didn’t identify.
Reliance began talks Thursday to acquire a majority stake in MTN, the newspaper said. Mumbai-based Reliance spokesman Anuj Bakshi declined to comment on the report, which said Reliance first held talks with MTN last year.
Bharti Airtel Ltd., Reliance Communications‘ rival and India’s largest mobile-phone operator, said earlier today its merger talks with Johannesburg-based MTN, Africa’s largest mobile-phone company, failed and that it was ending the effort.
Read more:http://www.bloomberg.com/apps/news?pid=20601091&sid=aTUmH6nioOqM&refer=india
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