The proposed merger between Bharti Airtel and South Africa's MTN would be India's biggest-ever M&A deal. The potential value of the Bharti Airtel-MTN deal would amount to $23 billion.
As per the exploring agreement, MTN and its shareholders would acquire around 36 per cent economic interest in Bharti Airtel, while, the Sunil Mittal-promoted Bharti Airtel would acquire 49 per cent stake in South African telecom giant MTN.
Let us now take a look at the 10 largest M&A transactions involving an Indian company until now
1. Tata Steel-Corus: $12.2 billion
On January 30, 2007, Tata Steel purchased a 100% stake in the Corus Group at 608 pence per share in an all cash deal, cumulatively valued at $12.2 billion.
The deal is the largest Indian takeover of a foreign company till date and made Tata Steel the world's fifth-largest steel group.
Photograph: Toby Melville/Reuters
2. Vodafone-Hutchison Essar: $11.1 billion
On February 11, 2007, Vodafone agreed to buy out the controlling interest of 67% held by Li Ka Shing Holdings in Hutch-Essar for $11.1 billion.
This is the second-largest M&A deal ever involving an Indian company.
Vodafone Essar is owned by Vodafone 52%, Essar Group 33% and other Indian nationals 15%.
Photograph: Punit Paranjpe/Reuters
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