Bharthi Airtel
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• Bharti Airtel formerly known as Bharti Tele-Ventures LTD (BTVL) is the largest cellular service provider in India,
• with more than 110 million subscribers as of 2009• Founded July 07, 1995• founder(s)Sunil Bharti Mittal• Headquarters New Delhi, India • Key people • Sunil Mittal (Chairman) & (MD)• Sanjay Kapoor(CEO)
GROUP OF COMPANIES• BHARTI AIRTEL• BHARTI TELETECH
TELECOM SEYCHELLES• COMVIVA TECHNOLOGIES
LTD• FIELDFRESH FOODS
PVT.LTD• BHARTI RETAIL• BHARTI AXA GENERAL
INSURANCE• BHARTI INFRA TEL
• BHARTI AXA LIFE INSURANCE
• BHARTI AXA INVESTMENT MANAGERS
• CENTUM LEARNING LIMITED
• JERSEY AIRTEL• GUERNSEY AIRTEL• BHARTI FOUNDATION• BHARTI REALTY
• “MY TELEPHONE NETWORK”
• MTN Group is a South Africa-based multinational mobile telecommunications company, operating in many African and Middle Eastern countries.
• MTN Group's President and CEO is Phuthuma Nhleko
• MTN describes itself as "the leader in telecommunications in Africa and the Middle East" and as of early 2007 is active in 21 countries.
• MTN Group provides cellular phone service to more than 80 million subscribers
• MTN BlackBerry• MTN International Roaming• MTN Banking• MTN EVD• MTN Mobile TV• MTN Me2U• MTN CallerTunez• MTN Zone
DEAL
• In May 2008, it emerged that Bharti Airtel, an INDIA-based telecommunications company, was exploring the possibility of buying MTN Group.
• The Financial Times reported that Bharti was considering offering US$19 billion for a 51% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm.
• However, talks fell through after a few days and Bharti Airtel pulled out of the proposed deal on May 24.
• Reliance Communications is in talks with MTN for a "potential combination of their businesses." If realized, the estimated worth of the combined entity would have been $70 billion (£35 billion), with 116 million subscribers worldwide
• on July 18, the two companies announced that they had mutually decided to end discussions regarding the merger.
• In May 2009, Bharti Airtel again confirmed that it is in Talks with MTN and companies have now agreed discuss the potential transaction exclusively by July 31, 2009
• Bharti Airtel said in a statement “Bharti Airtel Ltd is pleased to announce that it has renewed its effort for a significant partnership with MTN Group"
REASONS TO COLLAPSE
• The sticking point of the deal has been the South African government's insistence that MTN have a dual listing. Indian law does not currently allow for this.
• Existing FEMA provisions do not allow Indian companies to directly list their shares on an overseas stock exchange.
• MTN and its shareholders would acquire a 36% economic interest in Bharti, while it's looking at 49% in MTN.
• South African's worry that control of MTN, which is perceived as a national champion, could pass in to foreign hands