A deal between MTN, of South Africa, and Bharti Airtel, of India, to allow the telecoms groups to exploit markets in Africa and the Middle East may be in trouble, according to a Financial Times (FT) report. With only two weeks to go before talks are due to expire on September 30, the FT has learned that Pretoria told MTN last year that the state would never allow the country’s “strategic corporations” to be domiciled offshore during negotiations involving a merger with Reliance Communications, another Indian mobile operator. This suggests a link-up between MTN and Bharti is unlikely for the time being, say bankers. Last year’s MTN-Reliance talks were abandoned after Pretoria’s move.
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