Jul 18, 2008

RCom-MTN deal called off

The much-touted deal between Anil Ambani group company Reliance Communications (RCom) and South African telecom giant MTN was called off on Friday.

"The two sides were unable to conclude the transaction due to certain regulatory issues," RCom spokesperson said in statement on Friday night.

The deal, which was clouded by the bitter dispute between the Ambani siblings, was called off a day after Reliance Industries nominated an arbitrator to resolve the dispute with RCom.

RCom and MTN decided to end the exclusivity agreement three days before its expiry.

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