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Reliance India and South Africa close to merger deal MTN
In accordance with the merger of the two sides this framework, MTN will receive 74% of the shares of Reliance, Reliance Chairman will come up with 43-63 percent of the shares in the hands of exchange, so he will also become MTN's largest shareholder.
NetEase - The Science and Technology on June 9, according to foreign media reports, sources said Monday, India's second-largest mobile operator Reliance Communications and South Africa's MTN Group has entered a merger between the substantive stage, before the two sides are discussing The stock exchange ratio, the two companies formed after the merger the new company will become the world's top 10 telecommunications companies.
The main framework for the deal seems to have been determined, in accordance with the merger of the two sides this framework, MTN will receive 74% of the shares of Reliance, Reliance Chairman will come up with 43-63 percent of the shares in the hands of exchange, so he will also become the largest MTN Shareholders. The source said: "The exchange of the final price has not been determined, the two sides are still negotiating." According to the remarks confirmed the "Economic Times" (Economic Times) previously reported.
The newspaper quoted unconfirmed sources have reported that the two companies have agreed to the deal mainly in the framework, the two companies generated by the merger the new company its operations in over 20 countries and the market value of close to 60 billion U.S. dollars , But the two sides exchange ratio of shares is still not confirmed. The source said: "The two sides are negotiating a very balanced way, they each other very friendly." Reliance of India's largest rival Bharti Airtel and MTN on the merger talks ended in failure after, Reliance MTN and the two companies last month to start negotiations.
India allows foreign investors to India telecommunications companies to hold a maximum of 74 per cent stake, but the acquisition of a 15 percent stake in the company and then acquired 20 percent stake in the company must be mandatory to conduct a public auction. According to the South African government regulatory agencies, companies do not need a public auction under the circumstances to acquire up to 35% of the shares.
"Economic Times" reported Monday, Anil Ambani hope that the 100 shares to Reliance stock exchange 66 shares MTN shares that is 100:66, and MTN is hoped that this ratio is 100:51. Unwilling to disclose the identity of a telecommunications analyst said: "Obviously, Ambani hope that their stock premium to reach 25-30 percent." Morgan Stanley is expected to open by Reliance may bid for at least 613 rupees per share, and Reliance shares closed on May 23 premium bid was 7 percent. May 23 is the two companies announced that they are negotiating the news the day before.
Reliance shares since its merger with MTN for exclusive negotiations since the news announced last Friday, a total of 10 transactions fell 4.5 percent. Monday, the company's shares closing time for 0750 and Geni rule or 2 percent, fell to 536.10 rupees per share. "Economic Daily" said, Reliance's negotiating team is currently in Johannesburg, South Africa, is expected to be Tuesday to return to Bombay, India.
In this transaction, Lazard is Reliance's adviser, and Merrill Lynch MTN is the consultant.
In accordance with the merger of the two sides this framework, MTN will receive 74% of the shares of Reliance, Reliance Chairman will come up with 43-63 percent of the shares in the hands of exchange, so he will also become MTN's largest shareholder.
NetEase - The Science and Technology on June 9, according to foreign media reports, sources said Monday, India's second-largest mobile operator Reliance Communications and South Africa's MTN Group has entered a merger between the substantive stage, before the two sides are discussing The stock exchange ratio, the two companies formed after the merger the new company will become the world's top 10 telecommunications companies.
The main framework for the deal seems to have been determined, in accordance with the merger of the two sides this framework, MTN will receive 74% of the shares of Reliance, Reliance Chairman will come up with 43-63 percent of the shares in the hands of exchange, so he will also become the largest MTN Shareholders. The source said: "The exchange of the final price has not been determined, the two sides are still negotiating." According to the remarks confirmed the "Economic Times" (Economic Times) previously reported.
The newspaper quoted unconfirmed sources have reported that the two companies have agreed to the deal mainly in the framework, the two companies generated by the merger the new company its operations in over 20 countries and the market value of close to 60 billion U.S. dollars , But the two sides exchange ratio of shares is still not confirmed. The source said: "The two sides are negotiating a very balanced way, they each other very friendly." Reliance of India's largest rival Bharti Airtel and MTN on the merger talks ended in failure after, Reliance MTN and the two companies last month to start negotiations.
India allows foreign investors to India telecommunications companies to hold a maximum of 74 per cent stake, but the acquisition of a 15 percent stake in the company and then acquired 20 percent stake in the company must be mandatory to conduct a public auction. According to the South African government regulatory agencies, companies do not need a public auction under the circumstances to acquire up to 35% of the shares.
"Economic Times" reported Monday, Anil Ambani hope that the 100 shares to Reliance stock exchange 66 shares MTN shares that is 100:66, and MTN is hoped that this ratio is 100:51. Unwilling to disclose the identity of a telecommunications analyst said: "Obviously, Ambani hope that their stock premium to reach 25-30 percent." Morgan Stanley is expected to open by Reliance may bid for at least 613 rupees per share, and Reliance shares closed on May 23 premium bid was 7 percent. May 23 is the two companies announced that they are negotiating the news the day before.
Reliance shares since its merger with MTN for exclusive negotiations since the news announced last Friday, a total of 10 transactions fell 4.5 percent. Monday, the company's shares closing time for 0750 and Geni rule or 2 percent, fell to 536.10 rupees per share. "Economic Daily" said, Reliance's negotiating team is currently in Johannesburg, South Africa, is expected to be Tuesday to return to Bombay, India.
In this transaction, Lazard is Reliance's adviser, and Merrill Lynch MTN is the consultant.
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