Vodafone: no MTN bid

The UK-based cellular operator Vodafone has ruled out making a bid for South Africa’s MTN Group. A Vodafone spokesperson told The Financial Times: ‘We have no intention of pursuing an offer for MTN.’ Last week it was reported that the UK giant was considering making a move for MTN, which has cellular operations across Africa and the Middle East. This followed an informal bid from India’s Bharti Airtel. Vodafone has reaffirmed its commitment to its existing South African operation, Vodacom, and says it is looking to increase its stake in the company to above the current level of 50% to give it more management control.