In a sign that the ongoing talks between the top management of Bharti Airtel as well as South Africa’s MTN maybe progressing towards a positive conclusion, the two parties today announced that the deadline for talks has been extended further to September 30, 2009 from the recently announced date of August 31, 2009. The original announced date on May 25, 2009 was July 31, 2009.

The development is widely perceived to be a step in the positive direction and a justified one. The proposed deal is very complex in nature and will involve regulatory approval from multiple agencies in home countries of both the companies.

The two firms are maintaining utmost secrecy over the progress of talks.

Bharti is under pressure to up its offering to MTN. The Indian firm is in news nowadays related to its fund raising initiatives for the deal. Prominent financial bankers have committed support to the firm.