RSS feedMTN
’Snap news
Breaking pre-market news on Wednesday,
-Home Retail announces £150m share buyback alongside results – statement.
- BBVA reports flat Q1 net profit, says bad debts remain at same level as December – statement.
Bharti, MTN in $24bn accord
Bharti Airtel, India’s biggest mobile-phone company, and South Africa’s MTN Group reached a $24bn preliminary accord to buy each other’s shares, the first step in a planned merger, reports Bloomberg.
Bharti moves to sweeten MTN bid
Bharti Airtel has approached the State Bank of India for a $2bn loan in a move to sweeten a $23bn tie-up with South Africa’s MTN. India’s largest mobile operator is understood to have requested the $2bn loan in order to increase the cash component of the deal by 5-10% to about $5bn,
Bharti Airtel reassures over MTN
India’s Bharti Airtel and South Africa’s MTN will operate as separate companies, even after they seal a proposed merger. In an attempt to ease concerns over a deal to create a regional telecoms powerhouse,
India’s Bharti revives MTN deal
Bharti Airtel, India’s biggest mobile operator, controlled by telecoms billionaire Sunil Bharti Mittal, has revived talks with MTN of South Africa for a cross-share holding deal that could lead to a full merger and create one of the world’s biggest telecoms groups.
Fresh Ambani dispute threatens MTN deal
The corporate sparring between India’s Ambani brothers intensified yesterday after arbitration proceedings were started against Reliance Communications, a move that could derail the company’s proposed tie-up with South Africa’s MTN.
MTN could quit Reliance talks
South Africa’s MTN is considering walking away from a tie-up with Reliance Communications of India because of fears an acrimonious spat between the Indian telecom operator’s owner and his brother could leave the deal open to legal action.
Ambani eyes majority MTN stake
A consortium led by Indian billionaire Anil Ambani is considering taking a majority stake in South African mobile operator MTN to help stave off a potential legal challenge from his elder brother, Mukesh Ambani,
Ambani now wants 40% of MTN
Anil Ambani, chairman of India’s Reliance Communications, is considering buying more than 40% of MTN, Africa’s biggest wireless company. Until now it was thought Ambani would limit himself to a 34.9% stake – the limit beyond which he would be obliged under South African laws to offer to buy out MTN’s other shareholders.
Ambani brothers clash over Reliance sale
Escalating sibling rivalry between India’s billionaire Ambani brothers over the proposed takeover of mobile operator Reliance Communications by South Africa’s MTN could end up in the courts. Mukesh Ambani,
Ambani aims to keep Reliance stake
Anil Ambani, the Indian businessman, hopes to remain a major shareholder in both Reliance Communications, his mobile phone operator, and South Africa’s MTN after the pair combine in a reverse takeover,
Reliance eyes private equity tie-up
Anil Ambani, the billionaire Indian industrialist, is considering linking up with private equity groups on his bid to gain a powerful foothold in South African mobile operator MTN. Private equity groups have expressed interest in supporting Ambani’s plan to swap all or most of his majority stake in his Indian company,
Vodadeals
How’s this for a piece of multi-billion dollar corporate multi-tasking.
Having just announced the out-of-the-blue departure of its chief executive, Arun Sarin, Vodafone is seemingly closing in on two deals – one stirring a battle for control of fast-developing emerging telecoms markets,
Ambani seeks control of MTN
A possible merger of Reliance Communications of India and South Africa’s MTN could see Anil Ambani become the enlarged group’s chairman and biggest shareholder with a stake of almost 35% in what would be one of the world’s largest telcos.
Ambani’s MTN control trick
Indian billionaire Anil Ambani is ready to pay a “significant premium” to win effective boardroom control of MTN in the complex merger plan currently being negotiated by the South African mobile telecom group and Mr Ambani’s Reliance Communications,
MTN plans reverse takeover of Reliance
South Africa’s MTN is considering a reverse takeover of India’s Reliance Communications as part of talks to combine the pair and create an emerging markets telecoms giant. The proposal would follow the same structure as one abruptly rejected at the weekend by Bharti Airtel,
Bharti and MTN discuss sharing top roles
India’s Bharti Airtel and South Africa’s MTN are discussing a management structure for a proposed merger of their emerging-markets telecoms businesses under which they would fill an equal share of key executive positions.
Vodafone denies MTN interest
Vodafone insisted at the weekend it had no plans to make a bid for MTN, a leading mobile phone operator in Africa and the Middle East, reports the FT. The UK group last week reviewed the case for bidding for MTN after Bharti Airtel,
MTN hits high on Bharti talks
Shares in MTN, a leading mobile phone operator in emerging markets, hit fresh highs Tuesday after India’s Bharti Airtel confirmed it was in talks which could lead to it buying a controlling stake in the Johannesburg-listed company.