New Delhi, August 3, 2009: This is further to our media statement dated May 25, 2009 on renewal of discussions regarding a potential transaction between Bharti Airtel Limited and MTN. Bharti and MTN had entered into an exclusivity agreement regarding the potential transaction until July 31, 2009. As discussions between the parties regarding the potential transaction are continuing, both parties have agreed to extend the exclusivity period up to August 31, 2009.
No decisions or agreement to acquire any shares or implement the transactions outlined above have been made by the Boards of either Bharti or MTN and the discussions may or may not lead to any transaction. The structure and terms of the potential transaction may be adjusted to reflect further discussions between the parties.
About Bharti Airtel Limited
Bharti Airtel Limited, a group company of Bharti Enterprises, is Asia’s leading integrated telecom services provider with operations in India and Sri Lanka, with 100 million customers. Bharti has been voted as India's most innovative company, in a survey conducted by The Wall Street Journal. For more information, visit http://www.airtel.in/
Mobile towers are the lifeline of any cellular network. A smooth network depends on uninterrupted and adequate supply of power. In many parts of India, power supply is erratic. Most towers have a diesel generator backup. The telecom industry, with over 2,50,000 towers, is the largest consumer of diesel today.
Bharti Infratel, one of India’s top tower companies, has taken a pioneering step towards replacing diesel generators with solar energy, reducing Co2 emissions by 2.5 tonnes per tower every year.