MTN, Bharti extend exclusivity period
South African telecommunications company MTN said Monday that discussions between it and Indian telecommunications company Bharti regarding a potential transaction are continuing and both parties have agreed to extend the exclusivity period until August 31 2009.
"No decision or agreement to acquire any shares or implement the potential transaction outlined above has yet been made by the boards of either MTN or Bharti and the discussions may or may not lead to any transaction and the structure and terms of the potential transaction may be adjusted to reflect further discussions between the parties," the company said.
The original exclusivity period date ended July 31.
Shareholders were therefore advised to continue to exercise caution when dealing in MTN's securities until a further announcement is made.
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