View all newsletters
Receive our newsletter - data, insights and analysis delivered to you

Bharti in talks to buy 49% stake in MTN

To create an emerging market telecom powerhouse

By CBR Staff Writer

Bharti Airtel said that it is exploring a potential transaction whereby the telecom company would acquire 49% stake in South Africa’s MTN Group and, in turn, MTN and its shareholders would acquire an approximate 36% economic interest in Bharti — of which 25% would be held by MTN and 11% by its shareholders.

Bharti expects to pay ZAR86 in cash and 0.5 newly issued Bharti shares in the form of Global Depository Receipts for every MTN share while MTN would pay $2.9 billion for its stake in Bharti.

This transaction is expected to create a telecom group serving the large populations of Asia, Middle East and Africa. Bharti is expected to the be the primary vehicle for both Bharti and MTN to pursue further expansion in India and Asia while MTN would be the primary vehicle for both Bharti and MTN to pursue further expansion in Africa and the Middle East.

Bharti said that Singapore Telecommunications, a major existing shareholder of Bharti, would continue to be the strategic partner and significant shareholder after the implementation of the transaction.

Sunil Bharti Mittal, chairman and managing director of Bharti, said: “We are delighted at the prospect of developing a partnership with MTN to create an emerging market telecom powerhouse. This opportunity also represents a first of its kind in developing an Indian-African initiative that would serve as a shining example of South-South cooperation.”


Content from our partners
How to turn the evidence hackers leave behind against them
Why food manufacturers must pursue greater visibility and agility
How to define an empowered chief data officer

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.