TMT
By 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.

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He also said a dual listing of the firms would require the rupee to be made fully convertible, which needed to be examined.

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"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.

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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.

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"Dual listing is also linked with full-convertibility and all this should be looked into," Mukherjee said.

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