South African MTN Group reaffirmed its decision to enter into discussions with India’s Bharti Airtel reasoning that the proposed merger suits very well in its business strategy.

"The rationale for the transaction is compelling and includes diversification and synergistic benefits as well as addressing the objective of becoming one of the pre-eminent emerging market telecommunication companies," said MTN.

"(The potential deal) addresses growth objectives and would also represent a significant development in south-south cooperation between India and South Africa," added a company statement.