Ambani to visit SA, likely to further talks with MTN: Srcs

After the informal talks, now Reliance Communication is engaging different strategies to once again woo the South African telecom operator MTN. Sources said to CNBC-TV18 that Anil Ambani will be visiting Johannesburg to meet the top brass of MTN on Monday.

Sources close to the development also said that even though this time R-Comm is adopting different strategy, the deal does not look possible. Sources add, “MTN can’t be acquired, it will be the acquirer.”

Besides, R-Comm’s current market cap has also slipped to USD 6.5 million compared to its earlier valuation of USD 24 billion in 2008, when the talks between the two companies failed.

Meanwhile, R-Comm is continuing its talks with Abu Dhabi’s Etisalat for selling a 26% stake. Etisalat has already appointed Standard Chartered to advise on the deal.

Popularity: 1% [?]

Tags: Anil Ambani, Rcom

Category: Stock-News