Telecom major Vodafone Group Plc may offer $39 billion to buy South African telecom giant MTN Group. The Sunday Times has reported that Mr. Arun Sarin, CEO Vodafone, has asked his acquisition team to evaluate MTN Group’s worth and to proceed with the process of buy-out.

If the acquisition is successful, this will be the largest deal by India-born Arun Sarin as Vodafone CEO. The deal will offer easy access to Vodafone in the one of the fastest growing mobile services market in the world.

MTN Group recently received offer from largest private sector Indian Telecom company Bharti Airtel. Mr. Sunil Mittal from Bharti Group wanted to buy 51% stake in MTN. MTN Group said in a statement that the offer from Bharti Airtel undervalues the company. After Vodafone’s plans to acquire MTN Group, things may be difficult for Bharti Airtel proceeding further.

Industry experts believe that China Mobile and Reliance Communications may also be looking for buying stake in South Africa’s largest mobile services company. South African market is fast growing and will offer these companies an easy access to African markets.