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No deal yet in MTN/Reliance talks

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As the markets wait with bated breath for news out of the MTN/Reliance talks, there's a possibility that the two parties may extend the deadline for exclusive negotiations initially set for tomorrow (8 July).

The two companies set a 45-day exclusivity period for talks about either a merger or acquisition. Together, they would become one of the world's biggest telecommunications companies, operating in the growing markets of Africa and Asia.
However, the Wall Street Journal has reported that there may be a delay while Reliance Communications tries to resolve issues with Reliance Industries.
The two companies are run by brothers, who are embroiled in legal claims over who has rights to telecommunications shares.
The Journal article speculates that the talks may have shifted from Reliance buying into MTN, to MTN buying up all or part of Reliance.