Rel Com - MTN Deal

There has been huge debate going on in the Reliance group about this deal. Be it the Reliance ADAG group or Mukesh Ambani's RIL. The Reliance Communications - MTN deal is not a very simple one anyways. It involves MTN to first buy a minority stake in Rel Com, and then Rel com buying a majority stake in MTN to have a hold over the combined entity.

The problem comes when Mukesh Ambani stepped into the debate stating that according to the agreement of January 12, 2006 which was splitting agreement of the two brothers RIL has first right to refusal on sale of ADAG companies. Reliance Communications, Owner - Anil Ambani has come out in anger saying that RIL is not really interested in the company and these talks are just to spoil the MTN deal from happening.

It is now believed that top MTN officials are in Mumbai to meet up with the big bosses at Rel Comm to strike the deal.