Analysts feel that it is unlikely that the transaction would be completed by then and that the exclusivity period might be extended. The stock closed 12.50 per cent higher on Friday at Rs 438.20.
As per reports, RCom, in partnership with a sovereign wealth fund based in the Middle East, may directly buy a large equity stake in MTN, emerging as the single largest shareholder. This would help RCom avoid any legal complication and thus create a Top 10 global telecom firm. RCom shares are 48 per cent off their January 10 peak.