MTN rumoured to be circling Tata TeleServices

Media reports in India suggest MTN Group is looking to break into the Indian market through the acquisition of struggling telco Tata TeleServices (TTSL). An unnamed source claimed that talks were still in the early stages, whilst a corporate lawyer who advised Tata regarding the sale of DoCoMo’s stake in the company confirmed that MTN had completed two rounds of preliminary discussions.

MTN has in recent years attempted to enter the Indian market through deals with Bharti Airtel and Reliance Communication (RCOM), although the talks ultimately came to nought. The rumour mill was spurred on earlier this week by the announcement from the chairman of Mumbai-based industrial group RPG Enterprises who said that MTN was carrying out due diligence on a large Mumbai-based telecom firm. Whilst TTSL has been identified as the most likely candidate for a potential takeover, RCOM and Aircel were also suggested as potential candidates.