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S.Africa Govt In Principle Supports MTN, Bharti Deal

By Reuters

  • 01 Sep 2009

South Africa's communications department said on Tuesday it supported in principle a proposed tie-up between MTN Group and India's Bharti Airtel, aimed at creating the world's No. 3 mobile operator.

The two companies, which have been working on a complex $23 billion cash and share swap since May 25, have extended its talks to Sept. 30, after previously extending discussions by a month to Aug. 31.

Tiyani Rikhotso, spokesman for communications department, said in principle the government supported the proposed transaction if it followed the country's mergers and acquisitions rules.

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"In principle, yes, it appears to be a good proposal especially given the fact it happen within the framework of south-south cooperation," Rikhotso said.

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