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Reliance Comm says in exclusive talks with MTN

Sun May 25, 2008 11:51pm EDT

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MUMBAI, May 26 (Reuters) - Reliance Communications Ltd RCLM.BO, India's No. 2 mobile operator, said on Monday it had entered into exclusive negotiations with South Africa's MTN Group (MTNJ.J), after bigger rival Bharti Airtel (BRTI.BO) said at the weekend it had ended takeover talks with the South African firm.

"Reliance Communications and MTN Group have agreed to enter into exclusive negotiations ... to discuss potential combination of their business," Reliance Communications said in a statement.

The two firms, which are in negotiations, have agreed to exclusivity of 45 days, the statement said, without specifying more details. (Reporting by Rina Chandran; Editing by John Mair)



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