MTN Group, Reliance suspend tie-up talks

South Africa’s MTN Group and Reliance Communications of India have placed negotiations over a potential strategic tie-up on hold, Bloomberg reports, citing three people with knowledge of the situation. One of the sources has suggested that MTN is sceptical about the ‘industrial logic behind a deal at a time when India is revising its telecoms mergers and acquisitions rules’. Although the negotiations have not been officially confirmed, another source familiar with the matter has claimed that MTN was considering acquiring a 24% stake in Reliance, worth in the region of USD1.2 billion.