There is a growing list of failed emerging market telecoms deals, but Bharti Airtel and MTN’s decision to abandon talks over their proposed $23bn tie-up takes the cake in terms of political bumbling.

For the second time in two years, Sunil Bharti Mittal’s attempt to create a south-south mobile powerhouse appears to have been derailed by protectionist concerns. The companies called time hours after Siphiwe Nyanda, South Africa’s communications minister, said it would be sad if a merger ended up with MTN “in the hands of foreign nationals” – never mind that an eventual takeover was a goal of both companies when they announced the tie-up in May.