Airtel has pulled out of MTN deal, as MTN’s fresh move goes against Bharti’s vision (MTN proposed to make Bharti a subsidiary of MTN).
The Bharti signed term sheet agreement was presented to MTN on May 16th; and MTN’s fresh proposal demands Singtel shares in exchange of controlling stakes and also exchange of majority shares of Bharti family.
A deal of this size will go thru’ it’s own dance-and-flirt game and media very often plays the dancebar – so it ain’t over till it’s really over!
For now, it’s back to square one for Bharti and they will lookout for others way for inorganic growth.
