Investors kept in the dark

Lihle Z Mtshali

Lihle Z Mtshali

There were no updates forthcoming from either MTN or Reliance Communications yesterday when their period of exclusive talks ended.

Investors and analysts expected either one of the two mobile groups to issue an update on the potential merger, but it was disappointments all round when the companies remained mum on whether or not there would be an extension to the exclusivity period.

MTN and India's second biggest mobile operator, Reliance Communications, have been locked in exclusive merger negotiations for 45 days.

If successful, the talks would net a mobile operator with more than 116million subscribers, offering services in markets with a total population of 1,7billion people.

According to JSE rules a company needs to make an announcement to the market when a cautionary expires, but MTN has kept silent. - With Zweli Mokgata