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Ex-Vodacom chief gives thumbs up to MTN-Bharti deal

6/27/2009 2:20:00 PM

Johannesburg, June (EPC News): Alan Knott-Craig, the former CEO of the Vodacom Group, has given his thumbs up to the proposed deal between Bharti Airtel and South Africa’s MTN.

“The deal will create a lot of value for the shareholders of both the companies. It is the best time for Bharti to do the deal,” Mr Knott-Craig said. Bharti Airtel and MTN are in the midst of a possible transaction which involves the companies acquiring stakes in each other. The size of the deal is expected to be around $23 billion. Importantly, Vodacom, which has a 55% market share in South Africa, is going through a change in shareholding and has been losing market share.