PM strongly backs Bharti's efforts to acquire stakes in MTN
Bharti and MTN are looking at an $23 billion deal to create the world's third largest mobile firm with over 200 million subscribers. India's leading telecom companies
By PTI |
PITTSBURGH: Prime Minister Manmohan Singh on Saturday strongly backed Bharti group's efforts for acquiring stakes in South African telecom gaint MTN when he took up the issue with President Jacob Zuma and hoped that the deal will go through without any "discrimination".
"As far as MTN issue is concerned, I mentioned it to (President) Zuma. I sincerely hope that this deal would go through and there will be no discrimination against it," he told reporters in reply to a question at a press conference here.
Singh said officials of the two countries would discuss the issue.
Bharti and MTN are looking at an $23 billion deal to create the world's third largest mobile firm with over 200 million subscribers.
According to the initial agreement, MTN and its shareholders would acquire 36% stake in Bharti and Bharti would acquire 49% stake in MTN.
The process would see a $13 billion transaction in cash and $10 billion in shares.
"As far as MTN issue is concerned, I mentioned it to (President) Zuma. I sincerely hope that this deal would go through and there will be no discrimination against it," he told reporters in reply to a question at a press conference here.
Singh said officials of the two countries would discuss the issue.
Bharti and MTN are looking at an $23 billion deal to create the world's third largest mobile firm with over 200 million subscribers.
According to the initial agreement, MTN and its shareholders would acquire 36% stake in Bharti and Bharti would acquire 49% stake in MTN.
The process would see a $13 billion transaction in cash and $10 billion in shares.
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