South African telecoms group MTN is reportedly attempting to re-enter the Indian market, this time by acquiring local player Tata Teleservices.
The companies are in early talks, according to the Hindustan Times citing sources with knowledge of the…
South African telecoms group MTN is reportedly attempting to re-enter the Indian market, this time by acquiring local player Tata Teleservices.
The companies are in early talks, according to the Hindustan Times citing sources with knowledge of the matter.
MTN corporate affairs officer Paul Norman said the company is continuing to look for “value-enhancing opportunities, including M&A, as part of its long-term growth strategy” but declined to comment specifically on the report.
Tata Teleservices, also known as Tata Docomo, is 74%-owned by Indian conglomerate Tata Group while the remaining interest is in the hands of Japanese operator NTT Docomo.
In April, NTT indicated it would exit the Indian operator by exercising its call option. Tata Group had been thinking of offloading the NTT stake in Tata Tele but eventually resigned to buying it because it did not expect to find an investor prepared to pay an acceptable price in a short timeframe, according to earlier reports.
Tata was not immediately to comment.
MTN has tried twice to make its debut in India, in 2008 and 2009, through a tie-up with giant Bharti Airtel. However, the talks collapsed both times.
In May, reports suggested that MTN was considering transformational acquisitions that would enable it to expand beyond Africa and the Middle East.
