Bharti Airtel on Thursday said it had extended the deadline for exclusive talks with South Africa’s MTN over a possible tie-up that could create the world’s third-largest phone operator with 200m subscribers in India, Africa and the Middle East.

India’s largest mobile phone operator said the exclusivity period for talks would be extended by another month until September 30, adding that “discussions between the parties regarding the potential transaction continue to progress satisfactorily”. Bharti stressed, however, that “no decision or agreement to acquire any shares or implement the potential transaction outlined” have been agreed and said the talks may or may not lead to any transaction.