Howrah News Service -  Latest news and headlines on Howrah,West Bengal and World: Bharti denies buyout

Bharti denies buyout
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newsbyte on 06 May, 2008 03:52:24
 
By OUR CORRESPONDENT
New Delhi, May 6: Bharti Airtel said on Tuesday that it has not made any offer
to acquire the whole or part of African operator MTN Group Ltd.
"The speculation around a bid by Bharti in a section of media is incorrect and
misleading. Details of any transaction will be released promptly, if and when,
the parties reach an agreement. As a responsible listed company, Bharti will
continue to uphold the highest levels of transparency and corporate governance,"
said a Bharti spokesperson.
A report in an international financial daily had said Bharti has tabled an
indicative offer for 51 per cent of the equity of MTN at about 165 rands a
share, which would value the South African company at around $37 billion. Bharti
has secured $12 billion of financing from Goldman Sachs and Standard Chartered,
said the news report.