Bharti-MTN deal called off

Telecom giant Bharti Airtel today called off discussions with MTN for the $23-billion merger deal saying the South African government has rejected the proposed structure.

This is the second time in just over a year when Sunil Mittal-led Bharti Airtel has been forced to abandon talks for amalgamation of the two organisations in a complex deal that also required Indian government's clearance for dual listing.

"The structure needed an approval from the government of South Africa, which has expressed its inability to accept it in the current form," Bharti said in a statement while applauding the support given to the proposed deal by Finance Minister Pranab Mukherjee and others.

Bharti charts suggest that the stock is already oversold...It should recover from this level...this is if we dont account for the news on MTN deal.

Fudamental view on Long and Short term impact on bharti because of caling off the deal will be debated on various platforms. What we are interested is in gaining some profit out of this news...

Strategy is buy with 390 as s/l ...keep the s/l on closing basis.
1) If gaps up...buy (after 10:15am)...and keep 390 closing as s/l
2) If gaps down ...buy with 390 as s/l. even if it gaps down below 390, still buy and wait to see if recovers above 400. If it does recover, hold with 390 closing as s/l. If fail to trade abv 400 for 2-3 mins, book intra profits and wait for 390 to hold.


I wont be surprised to see 490 on screen for bharti shortly.

Thanx for increasing my knowledge base..
Good Luck