LONDON (Thomson Financial) - Vodafone Group Plc is examining a 20 billion
pound bid for Africa's largest mobile phone operator MTN, according to a report.
Chief executive Arun Sarin has told his in-house acquisition team to examine
options to buy South African based MTN, which revealed last week that it was
planning to sell a majority stake to Bharti Airtel of India, The Sunday Times
reported.
Although any activity is understood to be at an early stage and a bid might
not emerge, the acquisition would be Sarin's largest as chief executive and
would greatly increase Vodafone's exposure to emerging markets, the newspaper
said.
It would also give Vodafone an alternative way to break into the African
market following its failure last year to take control of Vodacom, the group's
existing investment in South Africa, the report said.
philip.waller@thomsonreuters.com
paw/wj
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