MTN, Africa’s biggest mobile phone operator, and Bharti, a leading Indian cellular provider, have revived talks on a merger that would create the world’s third-largest mobile phone group.
The deal was called off last year, but according to reports is now being reconsidered. Discussions are focusing on a cash and share swap that could lead to a full merger. If the negotiations succeed, Bharti will own a 49% stake in MTN, while MTN and its shareholders will have a 36% interest in Bharti.
The deal will afford both companies tremendous scope in tapping underpenetrated telecom markets in India and Africa. With over 200 million subscribers and combined revenue of US$20 billion, Bharti-MTN would be the third-largest mobile operator in the world after China Mobile and Vodafone. However, the combined company would generate less than a third of the revenue of either of the other two.
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