MTN may hold board meeting on Thursday to discuss RCom deal

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Updated: 08/07/2008 | 11:24 PM IST

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Press Trust of India

Tuesday, July 08, 2008 (New Delhi)

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Maintaining a stoic silence over the fate of its agreement for exclusive talks with India's Anil Ambani group firm RCom for an amalgamation deal, South African telecom giant MTN is likely to convene a board meeting on Thursday to discuss the issue.

Sources close to the development indicated that MTN could hold a board meeting to discuss the prospects of the possible deal, the 45-day exclusivity negotiations for which expired tonight, on July 10.

There was, however, no confirmation from either MTN or RCom on the status of the negotiations that could create an estimated 70-billion dollar combined entity, that has come into controversy following the legal issues raised by Mukesh Ambani-led RIL.