MTN is not in discussions to acquire a stake in India’s Loop Telecom, the JSE-listed telecommunications group said on Monday. This followed a report in India’s Business Standard newspaper that the two telecoms providers were in talks.
The newspaper did not name its sources, merely citing people close to the developments.
“MTN Group can confirm it is not in talks with Loop Telecom and firmly denies any media speculation suggesting such talks,” says MTN spokesman Nozipho January-Bardill.
The speculation about MTN and Loop Telecom follows the SA group’s unsuccessful attempts to forge a deal with two other Indian firms, Reliance Communications and Bharti Airtel. Outgoing MTN CEO Phuthuma Nhleko is keen to get into the vast Indian market, which has a population of 1,2bn people. — Staff reporter, TechCentral
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