New Delhi  - Indian telecom major Bharti Airtel and South Africa's MTN Thursday said they were extending their talks for a proposed 23-billion-dollar financial alliance until September 30.

Discussions on the proposed alliance were progressing, Bharti Airtel said in a statement to the Bombay Stock Exchange.

Bharti Airtel and MTN entered an exclusivity agreement on the potential transaction until August 31 and this had now been extended to September 30, the statement said.

No decisions or agreement to acquire any shares or implement the potential transaction had yet been made by the boards of either MTN or Bharti and the discussions may not lead to any transaction, the statement added.

Between them, Bharti and MTN have over 200 million subscribers and the deal would create the world's largest telecom company with over 20 billion dollars revenue and a footprint in Africa and Asia. (dpa)