The deadline for talks between India's Reliance Communications and South Africa's MTN Group over a tie-up to create a top 10 global telecoms company worth around $50 billion, may be extended by three or four weeks, the Business Standard newspaper said on Tuesday.
But due to first refusal right put out by RIL Chairman and elder brother of Anil, Mukesh Ambani the deal may be all but over.
An extension to the talks, which have been taking place on an exclusive basis for the past 45 days, would provide Anil Ambani, chairman of Reliance Communications, with a brief window to resolve a feud with his brother Mukesh that threatens to scupper the deal.
Reports say that there has been no official comment or confirmation from RCom as well. The two parties had committed to their shareholders that they will keep them updated of the developments but none of the parties issued a brief update yesterday. MTN is reportedly working towards holding a board meeting on Thursday.
