Govt asks Bharti to furnish papers of MTN deal
The government on Thursday said that it has asked Bharti Airtel to furnish details of its proposed $23-billion deal with South African operator MTN.
By ET Bureau |
NEW DELHI: The government on Thursday said that it has asked Bharti Airtel to furnish details of its proposed $23-billion deal with South African operator MTN. ���We have asked for formal papers about the deal from the company. There seems to be no problem with the deal, but we still want to be sure,��� corporate affairs minister Salman Khursheed said. The matter will be referred to the law ministry for legal opinion, he added.
Bharti revived talks with MTN for picking up a 49% stake in the South African telco. Whereas, MTN will get a 36% economic interest in Bharti in return for offloading the minority stake.
Bharti group chairman Sunil Mittal, who met Mr Khursheed earlier this week to apprise him of the deal, met commerce minister Anand Sharma on Thursday. Asked if MTN���s largest shareholder Public Investment Corporation has asked for a higher offer from Bharti, Mr Mittal said: ���Nobody has come to us.��� He also added that the proposed deal complies with all Indian regulations.
On whether he expects the deal to be completed soon, he said: ���I can���t give any time. Work is going on. Let���s see what happens.��� Bharti and MTN have agreed to be in exclusive talks till July 31.
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