It is apparent from the manner in which Malvinder Singh was asked to quit ahead of his scheduled contract that Daiichi Sankyo did not exercise due diligence on the company. Which is why it was taken aback by the problems with the US FDA as well as the subsequent issues that have cropped up. It is to be hoped that Bharti Airtel has done its homework on MTN. Most analysts have said the company will not have a great problem in raising the necessary funds — that may be true, but the history of mergers is not a very happy one. Add to this, MTN’s reputation for leaving so many suitors at the altar.
Sanjiv Pasricha, New Delhi
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