Still in the Hunt ; Can Anil Ambani Thrash Out a Deal with Mtn? Ambani has Been in Several Closed-Door Meetings with Mtn Chief Executive Phuthuma Nhelko in London, Hammering Out the Modalities.

Summary

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The Reliance Anil Dhirubhai Ambani Group (R-ADAG) is treading the minefield of negotiations surrounding the deal between Reliance Communications (R-Comm) and South Africa-based MTN quite carefully. And despite the googly thrown by Reliance Industries Limited, everything seems to be on track for a merger between the two companies.

The story so far: on May 26, hours after Sunil Mittal's Bharti Enterprises pulled out of negotiations with MTN, RADAG announced that it had secured 45-day exclusive negotiation rights with MTN regarding a tie-up between the two companies. It is believed that MTN favoured Anil Ambani's move since he is willing to swap his shares in R-Comm for a controlling stake in MTN, while keeping the merged entity based in South Africa. The deal will therefore see R- Comm become a subsidiary of MTN.

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Still in the Hunt ; Can Anil Ambani Thrash Out a Deal with Mtn? Ambani has Been in Several Closed-Door Meetings with Mtn Chief Executive Phuthuma Nhelko in London, Hammering Out the Modalities.

With the period for exclusive talks ending on July 8, there has been an added sense of urgency. However, an R-ADAG spokesperson told BT that it...

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