South African MTN and Reliance Communications have agreed to carry on talking, effectively breaking their vow to conclude the talks by yesterday.
The proposed merger is being opposed by the other Reliance - Reliance Industries, run by Mukesh Ambani. His brother, Anil Ambani, is chairman of Reliance Communications. The siblings don't get on.
If Reliance Comms - we hope you're still following this - manages to clinch a deal with MTN, it will create a telco behemoth with 100 million customers.
Mukesh Ambani of Reliance Industries doesn't want that to happen and claims that he has sway if there's a change of ownership in Reliance Communications. Get all that? X |