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'No offer to bid for South Africa-based MTN'

Written by: Staff

New Delhi, May 2: Country's leading telecom service provider Bharti Airtel Ltd today clarified that it has not received any offer to bid for South African telecom operator MTN.

''How can we make a bid? Nobody has invited us. I came to know about it through media only,'' company Chairman and Managing Director Sunil Mittal told reporters on the sidelines of a conference here. However, Mr Mittal said the company is always open to opportunities. ''Bankers keep on presenting opportunities from time to time and they are evaluated from time to time. When the appropriate time comes and evaluation results are in, we will make the move,'' he said.

The development comes in wake of media reports saying Bharti Airtel was considering to bid for MTN.

MTN is one of the largest regional telecom operators, with services in several countries in West Asia and Africa.

Reports said Bharti was assessing its financing options, in order to acquire MTN, estimated to be worth about 35 billion dollars.

However, the country's second largest mobile operator has since denied the news, saying, ''there is nothing on the table as of now.'' The South African firm's board will meet on May 5, 2008 to decide on inviting bids for management control.


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