Bharti Airtel Chairman Sunil Mittal’s bid for telecom major MTN Group has to contend with some tough negotiations with Lebanon’s former prime minister Najib Mikati, one of the wealthiest men in his country, as well as stiff black economic empowerment policies in South Africa that provide for a major share in the management of companies located in the country to blacks. [ You must note that under the leadership of Sunil Mittal as head of CII, they successfully lobbied against Race based reservation in India]
In related development, Bharti plans to raise up to Rs 28,000 crore to part-finance the acquisition thus diluting the equity. MTN has made clear that they want present executives to continue and lets see how the negotiations take shape.
In view of inordinate delay by the Delhi High Court to adjudicate on COAI’s petition challenging spectrum allocation and cross over technology, the telecom tribunal TDSAT on Thursday said it will go ahead with the final hearing on the issue.