MTN may target other Indian telcos, media reports  ( July '23,2008, Business Standard)

Speculations are rife in the local media about MTN's next move after the failure of talks with two Indian entities Reliance Communications (RCom) and Bharti Airtel for a possible merger, with some saying that the South African telecom major might now target other telecom operators from India.

Besides, MTN might pursue a potential deal with companies from other emerging markets in Latin America and Asian nations like Pakistan and Bangladesh, media reports said here.

The door is not yet shut on MTN in India as the country is "a huge market to walk away from," a report in financial daily Business Report said, quoting an analyst from research firm IDC.

The analyst added that "India had other small and regional operators that would make suitable targets for MTN."

MTN is likely to pursue other operators in India, after its talks with RCom to create a $70 billion telecom company were cancelled on Friday, Business Report said.

MTN began exclusive talks with Anil Ambani-led Reliance Communications in the last week of May after the South African firm's discussions with another Indian player Bharti Airtel fell apart.

However, RCom and MTN called off their talks citing certain regulatory and legal issues last Friday. Another South African financial daily Business Day quoted an MTN spokesperson as saying that "MTN will always look at what we call value-enhancing opportunities for shareholders and for the company, and that's what we will continue to do."