India''s Bharti Airtel and South Africa''s
MTN may complete their merger talks this weekend, a Reuters report, citing India''s Mint newspaper, said.
Bharti is the leading mobile phone operator in India, the second-biggest wireless market after China.
Bharti has said talks with MTN are preliminary and no bid has been made.
Media and analysts estimate Bharti may value MTN as high as $50 billion.
Merging the two firms would create the world''s sixth-largest mobile operator, with more than 130 million subscribers in nearly two dozen countries.
A source who spoke to the paper confirmed the timing of the closure of the deal but declined to provide details.
A spokesman from Bharti declined comment.
The Financial Times said last week that Bharti had made an indicative bid to buy 51% of MTN, valuing it at about $37 billion, making it India''s biggest overseas acquisition.
While MTN is being advised by Merrill Lynch and Deutsche Bank , the FT said Standard Chartered was advising Bharti.
Source:telecomasia.net
