Africa - The Wireless Frontier Message Board

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Technology Stocks : Africa - The Wireless Frontier

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To: elmatador who wrote (125)	5/24/2008 10:37:11 AM
From: Lynn	Read Replies (1) of 180

Reliance Communications in Talks Again With MTN, Standard Says By Harichandan Arakali May 24 (Bloomberg) -- Reliance Communications Ltd., Indian billionaire Anil Ambani's mobile-phone company, is in talks to acquire a stake in MTN Group Ltd., the Business Standard reported on its Web site, citing people it didn't identify. Reliance began talks Thursday to acquire a majority stake in MTN, the newspaper said. Mumbai-based Reliance spokesman Anuj Bakshi declined to comment on the report, which said Reliance first held talks with MTN last year. Bharti Airtel Ltd., Reliance Communications' rival and India's largest mobile-phone operator, said earlier today its merger talks with Johannesburg-based MTN, Africa's largest mobile-phone company, failed and that it was ending the effort. To contact the reporters on this story: Harichandan Arakali in Bangalore at harakali@bloomberg.net Last Updated: May 24, 2008 05:28 EDT bloomberg.com

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