Bharti Airtel which was trying to buy out MTN has decided to get out of the deal. Both parties had initiated talks about three weeks ago and talks were cordial through out this period and conducted in good faith but later developments are believed to have led to collapse of deal. According to the sources from Bharti, MTN came up with new structure under which new entity would have been under the control of MTN and this was the major reason for the debacle of merger.

In another statement issued by Bharti they persuaded major bakers all across the world and even over dozen of bankers came from US and Europe but at the end things did not go as were expected. The approach from both sides was disciplined towards the conclusion of the deal but as has been stated by Bharti it never engages in bidding war at any stage and when similar situation came, company decided to walkout. The transaction of shares and their prices on which there was the agreement was subsequently discarded by MTN.