It is believed that Bharti Airtel is now contemplating a bid for the whole of MTN, instead of the 51% initially reported.
Although there has no confirmation from either company, beyond a terse statement that they are "talkng", the Wall Street Journal reports that the Indian group is now considering a full takeover of the South African cellulal network operator.
The US newspaper's source says the offer is likely to be for $20-billion in cash and the balance through a share swop.
Apparently, Bharti may have upped its offer from R165.00, as reported last week, to R175.00.
As yet, there have been no offers placed on the table, although the UK's Vodafone is said to be eyeing an MTN stake as well.