24 May 08 Bharti Airtel MTN takeover deal fails

Bharti Airtel, India’s largest private sector telecom company, has made a public announcement stating that the talks with South Africa based MTN Group have failed. It seems there has been differences between the management of both the companies over which company would end up with the control of the merged entity. The combine, if the deal had materialised, would have been the world’s 6th largest mobile operator. It should be noted that MTN is much larger in size than Airtel and hence it wanted control over the merged entity after the merger took place. Bharti Airtel did not agree to this deal and instead wanted the control of the merged entity for itself.

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