South African telecommunications company MTN said on Thursday that it has extended the exclusivity agreement with Indian telecommunications giant Bharti Airtel, regarding a potential transaction, until September 30 2009.
The exclusivity agreement was due to have run out at the end of August.
“Shareholders are advised that the discussions between the parties regarding the potential transaction continue to progress satisfactorily and the parties have accordingly agreed to extend the exclusivity period until September 30 2009,” MTN said in a statement.
No decision or agreement to acquire any shares or implement the potential transaction has yet been made by the boards of either MTN or Bharti, and the discussions may or may not lead to any transaction, it added,
Shareholders were advised to continue to exercise caution when dealing in MTN’s securities until a further announcement is made. — I-Net Bridge