But the two companies might miss the July31 exclusivity deadline, analysts said yesterday.<\/p>\n
India’s Economic Times reported yesterday that a three-member team from MTN was meeting Indian officials to seek clarity on what rights MTN and its shareholders would get for holding a 36% economic interest in Bharti.<\/p>\n
MTN remained tight- lipped about the progress of the negotiations.<\/p>\n
Other media reported that a delegation from the Public Investment Corporation , which is MTN’s largest shareholder, with a 13.5% stake, had also gone to India.<\/p>\n
Though Bharti could not be contacted for comment, MTN said: “At this stage, MTN has nothing further to add to the cautionary announcement issued to the market.<\/p>\n
“The discussions are still in progress. MTN is in exclusive discussions with Bharti Airtel until July31.”<\/p>\n
Vunani securities ICT analyst Kate Turner-Smith said the fact that MTN had recently asked for $3.5-billion (R26.7-billion) in financing for the deal, instead of the initial 2.9-billion, was an indication that negotiations were progressing.<\/p>\n
“There’s been a lot of speculation around this deal, but I think the intention of MTN is for it to go ahead,” she said.<\/p>\n
Khulekani Dlamini, Afena Capital portfolio manager, was reluctant to predict, on the basis of an increase in MTN’s share price and media reports, whether a deal would be struck.<\/p>\n