MTN Group

 

MTN, Bharti merger talks could wind up soon

Staff Reporter

Merger talks between India's biggest cellphone services firm, Bharti Airtel, and South Africa's flagship MTN Group could wind up this weekend, a report said on Saturday. A merged group would create the world's sixth-largest mobile company with a network of 130-million subscribers.

JSE weaker on poor GDP data

Tiisetso Motsoeneng

South African stocks were lower at midday on Tuesday, pressured by below-forecast gross domestic product (GDP) data, which showed that the quarterly economic growth rate slowed to 2,1%, traders said. At 12.02pm, the all-share index was down 0,71%. Resources fell 1,01%, while the gold- and platinum-mining indices were off 0,42% and 0,72% respectively.

JSE slightly up, MTN in focus

Tiisetso Motsoeneng

South African stocks were slightly higher at noon on Monday with MTN in the spotlight on fresh merger talks with another Indian firm, but overall the session was muted due to public holidays in the United States and the United Kingdom. At 11.59am, the all-share index was up 0,30%, thanks to a 1,03% rise in resources.

JSE hits new record on resources

Tiisetso Motsoeneng

The JSE hit a fresh record high on Thursday, buoyed by miners on firm commodity prices and a weaker rand, but overall the mood was dampened by global inflation worries due to the rising oil price. At noon, the JSE's all-share index was up 0,98% at 33230,590 after earlier touching a fresh all-time high of 33309,820.

Reliance, MTN eye stock swap

Staff Reporter

South African cellular giant MTN could pick up to a 74% stake in India's Reliance Communications in a share-swap deal being discussed between the companies, an official said on Friday. "The stock swap is an option being considered at the moment," a Reliance official said on condition of anonymity.

Reliance Comms in talks with MTN

Rina Chandran

Reliance Communications, India's number two mobile operator, has entered into exclusive negotiations for a tie-up with the MTN Group, knocking its shares down 4%. Reliance was quick to fill a void left after its bigger domestic rival, Bharti Airtel, pulled out of talks at the weekend aimed at taking control of MTN.

Bharti says no new developments in MTN talks

Staff Reporter

A Bharti Airtel official on Thursday said there were no new developments in its talks with South African telecoms operator MTN Group that could create the world's sixth-largest mobile operator. Bharti said on May 5 it was in exploratory talks with MTN, and on May 13 said it had not made any bid for the South African firm.