By Scott Moritz
Top management of the two firms couldn’t resolve how to share control of the combined company.
The move comes a day after Bharti Infratel said that it aims to buy the stake it doesn’t own in its Indus Towers Ltd unit from Vodafone India Ltd, Idea Cellular Ltd and a private equity investor.
SoftBank will propose ending the talks as early as Tuesday, a Nikkei report said.
Indus Towers is a joint venture between Vodafone India, Bharti Infratel and Idea Cellular.
As many as 184,710,183 equity shares, owned by Indian Continent Investment Ltd, will be acquired on 3 November.
Telkom has repeatedly said that it wants to grow in the digital space through collaboration or acquisition
As the storm caused by changing regulations, tariff battle settles down, the industry is once again looking at an upward curve in terms of revenue.
Companies seek to preserve as much of their spectrum holdings as they can before regulators ask for concessions.
Over 99% of Idea shareholders voted in favour of the merger at the shareholders’ meeting on 12 October.
The merger includes tansfer of all the customers and assets of Tata CMB to Bharti Airtel