MTN now holds talks with Reliance Communication


	MTN now holds talks with Reliance Communication

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5-26-2008 7:50 AM

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reliance, mtn, india, telecom, bharti, talks, merger, wall street

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					<P><IMG width="159" height="65" alt="Relaince communication logo" src="http://www.think2015.com/images/R/reliance/reliance-corporate-logo.JPG" class="alignleft" /><STRONG>South African mobile operator <U><A href="http://www.mtn.com/">MTN Group</A></U> is in talks to combine with India’s <U><A href="http://www.rcom.co.in">Reliance Communications</A></U> after rival <U><A href="http://www.airtel.in/">Bharti Airtel Ltd</A></U>. called off negotiations with MTN, the <U><A href="http://www.wsj.com">Wall Street Journal</A></U> said.</STRONG></p> <P>A weekend report on the WSJ Asia website cited people familiar with the matter as saying discussions were under way, although it added they could go nowhere. It said it could not learn precise details of the tie-up being discussed but one unidentified person said the deal may be structured as a purchase of Reliance by MTN.</p> <P>Indian newspapers also reported on Sunday that Reliance Communications, India’s No. 2 mobile operator and part of the <U><A href="http://www.relianceadagroup.com">Anil Dhirubhai Ambani Group</A></U>, was believed to be in talks with MTN about a possible deal.
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