Bharti and MTN open talks of merger again.

Bharti Airtel India’s leading telecom service provider today in its press release said that it has renewed its effort to acquire 49% stake in MTN. The deal is suppose to be of woofing 23 Billion $.

The deal being pursued, could potentially create a telco that will rank in the top 5 globally, with more than 200 million customers and $20 billion in annual revenues.

Bharti Airtel will buy a 49% shareholding in MTN. MTN and its shareholders will acquire a 36% economic interest in Bharti, of which 25% will be held by MTN and 11% by MTN shareholders.

Bharti and MTN have agreed to discuss the potential transaction until July 31 , 2009.