South Africa’s MTN Group is willing to extend the 45-day exclusive deadline with Reliance Communicaiton for talks to discuss the potential combination of their businesses.The deadline will end on July 8. A high level team from MTN is also expected to meet Reliance Industries to take stock of the situation. Meanwhile, Reliance Communications has threatened to claim damages from RIL in case it takes recourse to legal action
Monday, June 16, 2008
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1 comments:
Mukesh Ambani is simply making a big noise over nothing.Its just a jealous older brother trying to hamper a prosperous younger brothers growth. The claims made by Reliance Industries Limited are baseless and were based on an agreement in 2006, which was signed only by Reliance Industries officials and was later overturned by the Bombay High Court.
This deal would would create one of the world’s largest emerging-markets telecom operators with 115m subscribers spread across Africa, India and the Middle East.
I wish the ADAG group all the luck.
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