Reliance Communications, MTN extend talks till July 21

09 July 2008

Mumbai: Reliance Communications has extended the period of its exclusive talks with South African telecom major MTN till 21 July, the company said in release.

The company did not say anything about the status of talks aimed at a "potential business combination.'' The release also did not detail the status of Reliance Communication's talks with Reliance Industries.

''RCOM and MTN have agreed to continue their negotiations in relation to such potential business combination, and have extended the period of exclusivity until July 21," Reliance Communications said in the statement.

"It is to be noted that there is no certainty either on completion, or the timing of the said proposal," the statement added.

In separate regulatory filings, the two companies also cautioned their respective shareholders on dealing in the scrips amidst the ongoing talks.

The two companies started negotiations for a 45-day exclusivity period on 26 May, which ended on July 8.