R-Com

"MTN and R-Com are still talking but the feud between the two Ambani brothers is getting serious and may derail the deal," one person said.

MTN-Reliance Talks Are Clouded by Feud 2008

Officials at Reliance Industries and R-Com declined to comment.

MTN-Reliance Talks Are Clouded by Feud 2008

Under this scenario, he would emerge as the biggest shareholder of the merged entity but R-Com would become a subsidiary of MTN.

MTN, Reliance Close to Deal 2008

Officials at R-Com and Reliance Industries declined to comment.

MTN, Reliance Close to Deal 2008

But, in any case, [R-Com and MTN] are prepared to move forward and deal with the Mukesh Ambani challenge when and if it comes.

MTN, Reliance Close to Deal 2008

Talks between the two telecom operators are centered on Anil Ambani likely selling his 66% in R-Com to MTN in a share swap.

MTN, Reliance Close to Deal 2008

Since late May, R-Com, controlled by Anil Ambani, has been in exclusive talks with MTN over a possible combination that would create a telecommunications empire stretching from Africa through the Middle East to India.

MTN, Reliance Close to Deal 2008

The exclusive period in which R-Com and MTN can hold talks ends July 9.

MTN, Reliance Close to Deal 2008

This person said the deal will be finalized after four months, when MTN and R-Com receive all necessary approvals from various regulators.

MTN, Reliance Close to Deal 2008

Anil's elder brother, sent a letter to MTN saying the firm had the right of first refusal on any deal involving a sale of R-Com.

MTN, Reliance Close to Deal 2008