RCOM-MTN deal falls victim to Ambanis' tussle

Agencies
Posted online: Saturday , July 19, 2008 at 14:31 hrs
Updated On: Saturday , July 19, 2008 at 14:28 hrs

Font Size

Feedback

Discuss

Save & Share Article

What’s this?

Digg	My Yahoo	Fark
del.icio.us	Newsvine	Reddit

Rate This Article

Rating: 0

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.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views represented here are not neccesarily endorsed by www.financialexpress.com and its allied websites. All messages will be moderated and no message that has inflammatory, abusive, derogatory language or any language deemed unfit for publication by the editor will be displayed. Though it will be endeavoured that as many messages as possible be displayed, there will be time lag between the submission and publication of the messages. The website reserves the right to publish or reject any message.

I agree to the terms of use.

Latest News

Print Edition

Events

RCOM-MTN deal falls victim to Ambanis' tussle

Post Comments