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MTN scotches takeover rumours

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MTN has poured cold water on speculation in this morning's UK-based Financial Times that it is considering an offer from India's Bharti Airtel. 

The newspaper reported that Bharti Airtel, which is partly owned by Singapore Telecommunications, was looking at making a bid for MTN.
A statement later this morning from MTN dismisses the rumour, saying the company receives tentative approaches from time to time, which are always evaluated.
However, it adds, "the Board of MTN has not received any specific proposal and, if and when there is anything specific to report, the market will be notified."
Bharti Airtel also confirms that a formal proposal to approach MTN hasn't been tabled, but leaves the door open for future opportunities.