SEBI exempts MTN from making open offer to Bharti shareholders
Market regulator SEBI said South African telecom company MTN need not make an open offer to Bharti Airtel shareholders in India as its shareholding in the Sunil Mittal promoted company would be through the Global Depository Receipts (GDR).

SEBI said that the open offer will only trigger once the GDRs, issued to MTN and its shareholders by Bharti Airtel, are converted into local...

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