Sunday, June 7, 2009

Bharti, MTN deal : Government will not intervene

The government will not intervene in Bharti Airtel's proposed deal with South Africa's MTN but will provide legal support if needed, said Corporate Affairs Minister Salman Khurshid.

"What do we have to do with other people's deals? ... We are not empowered for asking people what they are doing," Khurshid was quoted as saying.

"But of course, if help is required in any aspect of corporate law or governance, we will come into the picture," Khurshid told the financial daily in an interview.

Regulatory approvals are key to closure of the deal that would create the world's No.3 wireless group with more than 200 million subscribers and combined revenue of $20 billion.

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