The talks between the two telecom giants had collapsed earlier after Airtel rejected MTN's proposal that would have made the Indian firm a subsidiary of the South African company.

Following that, the South African group had started negotiations with the Reliance Anil Dhirubhai Ambani Group, which also failed.

'Bharti and MTN have agreed to discuss the potential transaction exclusively with one another until July 31, 2009,' an official statement issued by them earlier had said.