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Sunil Mittal may resume merger talks

Sunil Mittal may resume merger talks
PTI
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First Published: Tue, May 20 2008. 11 55 PM IST
Updated: Tue, May 20 2008. 11 55 PM IST
New Delhi: Bharti group chief Sunil Mittal is likely to resume talks with MTN in Johannesburg to carry forward negotiations for a possible merger.
Meanwhile, Anil Kumar, secretary of non-governmental organization Telecom Watchdog, said: “I have written a letter to MTN chairman Cyril Ramaphosa to take note of the fact that a 51% acquisition by Bharti is okay but a...merger through share-swap will surely breach FDI (foreign direct investment) guidelines in India.”
FDI in Bharti is already 65% and it can absorb a further 9%.
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First Published: Tue, May 20 2008. 11 55 PM IST