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Bharti-MTN deal to be finalised in 7-10 days: Srcs
Bharti Airtel said it has not made any bid for MTN, nor is there a requirement to make one, reports CNBC-TV18. "We are still in exploratory discussion with MTN, which is aimed at combining the strengths of both companies."
The Bharti-MTN deal structure is likely to be finalised in 7-10 days, sources said. "Both entities are likely to start due diligence only once the term sheet agreement is signed. This is unlikely to be an acquisition but could be a JV or merger. Both parties have not yet arrived at valuations."
According to sources, SingTel is already part of the decision making process. "However, there is no call yet whether SingTel will invest in the deal. Bharti may not need to approach SingTel for investment in the deal."
Earlier, Bharti Airtel said it has not made any bid for MTN, nor is there a requirement to make one, reports CNBC-TV18. "We are still in exploratory discussion with MTN, which is aimed at combining the strengths of both companies. However, these discussions may or may not lead to any transaction but is aimed at the structure of combining strengths of both companies."
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