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S.Africa govt support makes MTN-Bharti deal likelier



01 September 2009 @ 03:00 pm ET

S.Africa govt support makes MTN-Bharti deal likelier
A rickshaw driver talks on his mobile phone as he rides past a billboard outside a railway station in the northern Indian city of Chandigarh May 26, 2009. India's Bharti Airtel, which has restarted merger talks with South Africa's MTN Group, said on Tuesday it does not expect funding requirements for the deal to be onerous. The talks could lead to a merger creating one of the world's biggest cell phone groups by subscribers through the combinatio... (Reuters Photo / Ajay Verma)
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MTN's Chief Executive Phuthuma Nhleko and Bharti's Chairman Sunil Mittal met the Indian finance minister and corporate affairs minister last week.

MTN shares were barely changed at 127.75 rand by 1414 GMT, in line with a flat JSE blue chip Top-40 index .JTOPI. Shares in Bharti slipped 0.7 percent, in line with the Mumbai market.

(Additional reporting by Georgina Prodhan, Devidutta Tripathy, Narayanan Somasundaram; editing by John Stonestreet)

Copyright 2009 Thomson Reuters. All rights reserved.

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