MTN to hold AGM on June 19, may discuss deal with Bharti
Amid discussions with Bharti for sale, S African teleco MTN will hold its Annual General Meeting on June 19.
By PTI |
NEW DELHI: Amid discussions with India's Bharti Airtel for sale, South African telecom company MTN will hold its Annual General Meeting on June 19.
The AGM of MTN is expected to discuss the issue of acquisition by Bharti Airtel with which the South African company is holding exploratory talks.
Bharti Group Chairman Sunil Mittal is likely to hold talks with the top management of MTN shortly in Johannesburg to carry forward negotiations that were left inconclusive in London for a possible merger of both the entities.
In its Annual Report for last fiscal, the company has said it has also indicated at buying back shares from the market, besides referring to equity base expansion.
Meanwhile, a Bharti Airtel official said today that there were no new developments in its talks with the South African telecom operator. "There is no new development," Syed Safawi, an executive director of Bharti Airtel, told reporters on the sidelines of a function on the progress of the deal.
Bharti Airtel, in an earlier statement, said that the discussions currently being held are aimed at combining the strengths of the two leading 'emerging Markets' players and accordingly veering towards possible structure to achieve this objective.
The AGM of MTN is expected to discuss the issue of acquisition by Bharti Airtel with which the South African company is holding exploratory talks.
Bharti Group Chairman Sunil Mittal is likely to hold talks with the top management of MTN shortly in Johannesburg to carry forward negotiations that were left inconclusive in London for a possible merger of both the entities.
In its Annual Report for last fiscal, the company has said it has also indicated at buying back shares from the market, besides referring to equity base expansion.
Meanwhile, a Bharti Airtel official said today that there were no new developments in its talks with the South African telecom operator. "There is no new development," Syed Safawi, an executive director of Bharti Airtel, told reporters on the sidelines of a function on the progress of the deal.
Bharti Airtel, in an earlier statement, said that the discussions currently being held are aimed at combining the strengths of the two leading 'emerging Markets' players and accordingly veering towards possible structure to achieve this objective.
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