In an interview with the Financial Times (FT) today, Bharti Airtel’s chairman and founder, Sunil Bharti Mittal, says Bharti and MTN may remain separate entities for some time even if their current merger talks come to fruition. “They are two separate companies and they will be run as two separate companies until we merge, that’s the vision we have, as and when that [a merger] would be possible,” said Mittal, noting that MTN’s current management team is also expected to remain in place if a deal is done. “There’s a very good management team there which is … very successful. We have no intention of making any changes there.” His comments are seen by analysts as an attempt to defuse tensions in South Africa, where some are concerned of the consequences of MTN falling into foreign ownership. He also attempted to assure MTN’s existing shareholders that their rights would be protected in the merged entity. “They will be protected by all the minority protections that anybody would need in each other’s companies,” Mittal said. “We [Bharti] are not seeking control. The whole deal is that we have a significant influence.”

Under the current merger proposals, Bharti will pay a net US$4 billion in cash and will offer shares equivalent to a 25 percent stake in itself in exchange for a 49 percent share of MTN. The period of exclusive merger talks between the two operators is due to expire on Friday, but it was reported on Monday that talks could be extended by up to four weeks. The complications are understood to involve the role SingTel will play in the merged entity. The Singapore firm currently owns 30 percent of Bharti and the companies are discussing how the stake could be maintained if a merger were to go through. However, Mittal told the FT that it was too early to say whether the exclusivity period for talks would be extended beyond the original deadline.