MUMBAI: Reliance Communications has offered to meet Reliance Industries, which has staked a right of first refusal on its shares, a source close to the development said a day before a deadline for its exclusive talks with South Africa's MTN Group ends.

The source said Reliance Communications maintained that Reliance Industries' claims were untenable, but said India's No. 2 mobile firm was prepared to meet with Reliance Industries in the week of July 14 "to clarify any doubts".

The meeting was not part of "conciliation" or "dispute resolution", the source said. Reliance Communications, India's No. 2 mobile operator, began exclusive talks with MTN, sub-Saharan Africa's top mobile operator, in end-May.

A deal would create a top-10 global telecoms firm with operations in about two dozen countries.



In June, Mukesh Ambani, who runs Reliance Industries and is the estranged older brother of Reliance Communications chairman Anil Ambani, had claimed a right of first refusal on Reliance Communications shares.

Shares in Reliance Communications ended Monday down 4.2 percent at Rs 419.80 in BSE that rose 0.5 percent.