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MTN talks with Reliance Communications stall - report

2013-07-10 10:42:00| Telecompaper Headlines

(Telecompaper) MTN Group and Reliance Communications have put talks to link up on hold, Bloomberg reported, citing three people close to such negotiations. Discussions were initiated this year and might have led to MTN taking about a 24 percent stake in Reliance Communications, another person said, asking not to be identified. A 24 percent stake in Reliance Communications has a market value of about USD 1.2 billion. According to the newswire, South Africa-based MTN had reservations about the industrial framework around the deal. India is in the process of revising its rules governing mergers and acquisitions this year.

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