b>MTN and Reliance. What, again? Unconfirmed reports suggest that Anil Ambani could be in town today to talk to the fellows from MTN. Check it out, Indian business publication Moneycontrol reports from last week Thursday: Reliance Comm mulls MTN merger, stake sale. This seems highly unlikely to me, especially in light of the rumours Friday that Etisalat was looking to take a 26 percent stake. Turns out that someone was looking to take a stake, but that party has not been disclosed in the official announcement, sounds crazy. Especially when you are talking about 1.9 billion US dollars worth. Is that all that a 26 percent stake is worth in Reliance? Check this out:
Reliance Communications Gains After Approving 26% Stake Sale. So, I would not care too much about Anil Ambani being in town, I would rather be more inclined to think if he WAS, he might be saying, pay up if you want it. We wait as ever, but in the meantime MTN have said thanks we are talking to another party, Orascom. Seems like the plot thickens though, AT&T are thought to be the party who are talks to acquire the 26 percent. The WSJ reports: India's Reliance in Informal Talks With AT&T. Turns out that whatsisname fund managers in Cape Town who think that MTN might overpay for assets should be paying attention. Other people are seemingly wanting to overpay too, got that?