RCOM-MTN deal falls victim to Ambanis' tussle

Agencies
Posted: Saturday, Jul 19, 2008 at 1431 hrs IST
Updated: Saturday, Jul 19, 2008 at 1428 hrs IST

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New Delhi/Johannesburg, July 19:: In the midst of a bitter battle between the Ambani siblings, the much touted deal between RCOM and South African telecom giant MTN collapsed, a day after RIL, headed by Mukesh Ambani, initiated the arbitration process against younger brother Anil's group firm.

Spokespersons of both RIL and RCOM declined to comment on the arbitration issue.

"The two sides were unable to conclude the transaction due to certain regulatory issues," RCOM said in a statement three days before the expiry of the extended agreement between MTN and ADA group firm for exclusive talks.

Meanwhile, sources said MTN has possibly started looking at Bharti Airtel, a Chinese company and a Russian entity for negotiations, but no confirmation could be obtained from the concerned corporate.

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