Financial Times FT.com

MTN to extend merger talks

By Joe Leahy in Mumbai

Published: July 9 2008 03:41 | Last updated: July 9 2008 07:45

South Africa’s MTN on Wednesday agreed to extend exclusive talks with Indian mobile operator Reliance Communications for a potential merger between the pair, ending for the time being speculation that the deal was about to collapse.

The two sides were expected to release a statement clarifying the status of the talks on Tuesday but delayed it until Wednesday morning, amid concern that sibling rivalry between India’s billionaire Ambani brothers might scupper the deal.

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