The government on Tuesday said it is open to the dual listing of MTN, which is in an exclusive talks with Bharti for a merged entity of 23 billion dollars, on the stock exchanges of India and South Africa as there is a provision to this effect.
The South African government is learnt to have sought dual listing for MTN that would allow MTN shares to be traded on the Indian and South African bourses simultaneously with equal voting rights.
"There is a provision for the dual listing of companies. The South African minister met me at G-20 finance ministers meeting and there I suggested to him that this arrangement is to be looked into in the Indian context," Finance Minister Pranab Mukherjee told reporters.
"There is no assurance as such, but I told him (the South African minister) that we will look into this matter and we will see what can be done," he said.
Asked whether the dual listing can be done under existing laws, Mukherjee said that is being examined.
According to sources, the South African government has asked India to enter into an agreement before the September 30 deadline that would allow dual listing of MTN.
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