Article: Bharti launches merger bid with MTN for biggest transnational deal

#MergersAndAcquisitions

Bharti launches merger bid with MTN for biggest transnational deal

At a time when global giants are tightnening their belts and putting ambitious plans on the back burner Bharti Airtel has taken the bull by its horns and relaunched a daring merger bid with South Africa’s MTNcreate a $61 million transnational telecoms giant with combined revenues of $20 billion and over 200 million subscribers across Asia, Africa and the Middle East, that would make it the world’s fourth largest telecom entity – the largest outside China. Unfazed by the breaking down of negotiations for an acquisition of MTN in May of last year, Bharti boss Sunil Mittal has announced that it is now in advanced talks for a mega deal with the south african company. The potential transaction will take the form of a complex share swap after which Bharti will hold about 48.8% of MTN’s enhanced equity and MTN will hold roughly 36.4% of Bharti’s expanded equity. ‘Both companies would stand to gain significant benefits, including reduced costs from enhanced scale’ Mr Mittal stated.

At a time when global giants are tightnening their belts and putting ambitious plans on the back burner Bharti Airtel has taken the bull by its horns and relaunched a daring merger bid with South Africa’s MTNcreate a $61 million transnational telecoms giant with combined revenues of $20 billion and over 200 million subscribers across Asia, Africa and the Middle East, that would make it the world’s fourth largest telecom entity – the largest outside China. Unfazed by the breaking down of negotiations for an acquisition of MTN in May of last year, Bharti boss Sunil Mittal has announced that it is now in advanced talks for a mega deal with the south african company. The potential transaction will take the form of a complex share swap after which Bharti will hold about 48.8% of MTN’s enhanced equity and MTN will hold roughly 36.4% of Bharti’s expanded equity. ‘Both companies would stand to gain significant benefits, including reduced costs from enhanced scale’ Mr Mittal stated.

Topics: #MergersAndAcquisitions, #Updates, C-Suite

Did you find this story helpful?

Author

QUICK POLL

Is India Inc ready to support the gig economy?

On News Stands Now
q_auto,f_auto/v1575666839/mag-december-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

.

Subscribe
And Save 59%

Subscribe now

How likely are you to recommend our content to a friend or colleague?

01
10
Selected Score :