Reliance close to a deal with MTN Group
June 9th, 2008 Leave a comment Visited 118 times, 1 so far today
Reliance close to a deal with MTN Group
Reliance Communication is close to signing a deal with the South African telecom company MTN.
The two companies are currently locked in discussions to decide the share swap ratio.
The deal is likely to make ADAG the single-largest shareholder in MTN.
Sources say that the two companies are also discussing the structure of the management of the entity after the deal is confirmed.
It is likely that Anil Ambani himself is going to join the MTN board as either Chairman or co-Chairman.
Reliance is working with Deutsche Bank on this deal which is acting as the financial advisor to the company.
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