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Looking at Bharti-MTN Legal Issues – Pranab Mukherjee

28 September, 2009

The government welcomes a tie-up between local telecom Bharti Airtel and South Africa’s MTN, but there were some legal issues that needed to be looked at, Finance Minister Pranab Mukherjee said on Wednesday.

 
He also said a dual listing of the firms would require the rupee to be made fully convertible, which needed to be examined.
 
“We welcome the deal but in context of the law of the land. There are some legal implications which are being looked into,” Mukherjee told reporters in Kolkata.
 
South Africa’s government is eager to retain MTN’s national character and has approached Indian authorities to consider a dual-listed structure, which is not allowed under existing Indian laws.
 
“Dual listing is also linked with full-convertibility and all this should be looked into,” Mukherjee said.

 


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Looking at Bharti-MTN Legal Issues – Pranab Mukherjee

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