RCOM/MTN TALKS TO BE EXTENDED - REUTERS

Tue, 08 Jul 2008

Negotiations between India's RELIANCE COMMUNICATIONS and South Africa's MTN GROUP, which are due to end on Tuesday, may be extended by three or four weeks, the Business Standard newspaper said on Tuesday. India's No. 2 mobile carrier has offered sub-Saharan Africa's top mobile operator a deal by which Chairman Anil Ambani will take 51% in the South African firm through a cash and share swap, the paper said, a structure that has been referred to earlier by local papers and sources with knowledge of the talks.