Bharti-MTN deal update

The delegation of regulatory officials of the South African Government and the market is an essential element of dual listed companies merger talks MTN Bharti issue, so that representatives of the Union Ministry of Finance.
Meetings of officials at the Securities and Exchange Board of India, Bandra Kurla complex of offices in India, the RBI and the Ministry of Finance. KP Krishnan, Joint Secretary in the Ministry, Executive Director, SEBI Usha Narayanan and Salim Gangadharan Chief Executive Officer, the Reserve Bank, were present among them.

Press Trust of India report said that South Africa has a delegation of senior officials from Treasury and the Reserve Bank of South Africa.
Although the Ministry of Finance on this issue, convertibility of the capital, taking into account the opinion of the Central Bank on the need for political decisions is detected, or even in the Foreign Exchange Management Act, which modifies the dual listing the required business rules and convertibility of the capital. Changing the law is necessary.

Negotiations on the conclusion of the talks came one day before the deadline was 30 September. Yesterday Finance Minister Pranab Mukherjee said the government was in favor of the agreement, but must be taken into account within the existing legal framework.

Bharti Airtel announced the plan, which provides 49 percent of received economic interests in MTN. In return, acquire MTN, Bharti Airtel, and 25 percent economic interest of the shareholders will receive 11 percent of MTN.


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