South African telecom major MTN Group has made an announcement that the shareholders should be cautious while dealing with company shares. The stock jumped after largest Indian private telecom operator Bharti Group expressed interest in buying 51% stake in the company to expand to South African telecom market.

The company said that the group is in process of negotiating a deal about stake sale. However, the discussion may not result in a successful deal. The stock price had jumped to 160 rands after Bharti Group started with the buyout plans. After the Indian company decided to not go ahead with the deal, Bharti Airtel shares were up in Indian Stock market.

Reliance Communications expressed interest in buying stake in the South African company. Reliance Communications was down by almost 3.5% in early trades. Bharti Airtel closed 3.08% higher on National Stock Exchange. The stock closed above its 50-day moving average. This may be a considered as a positive sign for the stock. If the markets remain rangebound or gain some ground, Bharti stock may cross 900 levels easily.

MTN Group stock was down by 7.2% as technical experts had expected. Market experts expected MTN Group to release a statement regarding the talks with Reliance Communications to avoid sudden fall in stock valuations in the Johannesburg stock exchange.