The much-awaited deal between Bharti and South Africa’s MTN that expected to merge the two telecom giant has failed yet again. The doubtful issue of dual listing proved to be the deal breaker.
Bharti, in a statement, said, the company has decided to uncouple itself from the deal. “We hope the South African government will review its position in the future and allow both the companies an opportunity to re-engage.” The statement further said that the South African government had expressed its inability to accept it in the current form. Also, it stated, Bharti would continue to explore international expansion opportunity.
South African mobile phone operator MTN declined to comment on a statement by India’s Bharti Airtel that tie-up talks have been called off, saying it will issue a statement later. “We will send out a statement later on,” MTN spokeswoman Nozipho January-Bardill said.
While due to deal failure South African rand declined almost a half a percentage.
