Everyone thought Bharti and MTN would pull the deal through in the second time. But it wasnt meant to be.
Both the parties agreed to terminate the deal. We will never know what officially went wrong. Still, my guess was, MTN was too rigid on lot of things like dual listing, future head quarters of MTN etc.
What i like was the interest shown by South African government in the deal when compared to reactive approach of indian officials.
Bharti was the underperforming stock for the past 12-15 months due to falling market, still competition from other indian telecom operators, potential borrowing due to the acquisition.
Price of Bharti stock is unlikely to show substantial improvement due to number portability impact. I would say the price range of Bharti would be 410 - 485 until march 2010.
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