Tags: Bharti Airtel, India, MTN Group, south africa, Sunil Bharti Mittal

Bharti Airtel end talks with MTN Group

Indian telecom industry giant Bharti Airtel has revealed that they have now ended their talks with South Africa’s MTN Group.

The company said in a statement: “Bharti has decided to disengage from the ongoing talks and has conveyed the same to MTN.”

Bharti founder Sunil Bharti Mittal added that they had to end the talks on the new ownership structure which was proposed by MTN.

MTN had suggested that Bharti Airtel would become a subsidiary of MTN which was not acceptable to them.

Bharti Airtel added in its statement: “Throughout the process, the discussions amongst the bankers and the two companies were cordial and conducted in good faith.”