MTN South Africa Extends Negotiations With India’s Bharti
MTN says shareholders are referred to the cautionary announcement and to the renewal of cautionary announcement released on SENS on 25 May 2009 and 6 July 2009 concerning discussions regarding a potential transaction between MTN and Bharti Airtel Limited. MTN and Bharti had entered into an exclusivity agreement regarding the potential transaction until 31 July 2009.
Shareholders are advised that the discussions between the parties regarding a potential transaction are continuing and both parties have agreed to extend the exclusivity period until up to 31 August 2009.
The statement says no decision or agreement to acquire any shares or implement the potential transaction outlined above has yet been made by the Boards of either MTN or Bharti and the discussions may or may not lead to any transaction and the structure and terms of the potential transaction may be adjusted to reflect further discussions between the parties.