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Bharti says in talks to buy stake in MTN

India's top mobile operator, Bharti Airtel, said on Monday it was exploring a potential deal to buy 49 percent in South African telecoms firm MTN.

The deal being discussed would also have the South African firm taking a 25 percent interest in Bharti and its shareholders taking another 11 percent, the Indian firm said in a statement.

Bharti is looking at paying 86 rands and 0.5 newly issued Bharti global depositary receipts for each MTN share, while MTN would spend $2.9 billion for its purchase in Bharti, it said. (Forbes)

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