UK papers say Vodafone in MTN play; co denies

NEW DELHI: Is the world’s largest mobile phone company by revenue, the UK-based Vodafone, joining the race for MTN?

UK’s Sunday Times and Sunday Telegraph newspapers have reported that Vodafone is examining a £20 billion or $39.02 billion bid for MTN.

It also said that Vodafone CEO Arun Sarin has asked the in-house acquisition team to explore the options of buying MTN.

Vodafone has, however, denied any intention to pursue MTN.
Indeed, if Vodafone is interested in acquiring MTN, talks could be at an early stage and may not result in a bid, sources said.

Early last week, Bharti and MTN had also said that they are in exploratory talks and may not result in a deal.

But within days, it was learnt that the two were locked in advanced deliberations in London for an acquisition deal.

Bharti wants to buy 51% in MTN, and is believed to be arranging finances for the deal.
SingTel, which holds 30.5% in Bharti, will help in the process.
m_nivedita@dnaindia.net