No bid made for MTN so far: Airtel

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Posted online: Tuesday , May 06, 2008 at 1731 hrs IST

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New Delhi, May 6: Amid talks of acquiring South Africa's telecom company MTN, Bharti Airtel on Tuesday said it has not made any bid so far to buy whole or part of the company.

"The speculation around a bid by Bharti in a section of the media is incorrect and misleading. Details of any transaction will be released promptly, if and when, the parties reach an agreement," the domestic telecom major said in a statement.

On Monday night, Bharti had said that the company has initiated ‘exploratory discussions’ with MTN Group.

Tuesday's statement about no bids having been made followed a report by the British daily Financial Times that Bharti has made an indicative bid worth about 19 billion dollars for a 51 per cent stake in MTN.

"As a responsible listed company, Bharti will continue to uphold the highest levels of transparency and corporate governance," Bharti said.

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No bid made for MTN so far: Airtel

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