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Johannesburg - Mobile operator MTN Group may target Mexico's America Movil and other operators in India, Bangladesh and Pakistan in its bid to become a global player, analysts said on Monday.
On Friday MTN called off talks with India's Reliance Communications, aimed at creating a top-10 global telecoms group, saying they could not reach a deal.
One analyst said MTN could look at America Movil, the largest mobile phone operator in Latin America, with operations in 16 countries in Latin America, the Caribbean and the US.
"We expect that Latin America could be the next big area of interest for MTN," Lindsey McDonald, ICT industry analyst at consultancy Frost & Sullivan, said.
"Its market characteristics are similar to those of Africa, the mobile market has demonstrated robust growth, and there are operators present there that could be good targets or partners going forward. America Movil is one possibility."
Nozipho January-Bardill, MTN spokesperson, said any link to America Movil was pure speculation.
"People are beginning to guess and take shots," she said.
"What we have said is that we are always going to continue to look at what we call value-enhancing opportunities. That process will not stop."
The failure to reach a deal with Reliance follows a decision in late May by India's leading mobile operator Bharti Airtel to end talks with MTN.
'India a very attractive market'
Bharti said it called off the talks after MTN proposed a new structure that could have seen the Indian group becoming a unit of the South African-based group.
Rajay Ambekar, telecoms analyst at Cadiz African Harvest in Cape Town, said MTN would still try and make a go at the Indian market, adding that they may look at opportunities in Bangladesh, Pakistan and South America.
"I think the key thing for MTN is India is a very attractive market, and it's no doubt its going to be difficult now (to enter the market)," said Ambekar.
He added there was only an outside chance MTN might try to revive talks with Bharti.
MTN said last week it had made no attempt to talk to Bharti despite market talk.
Furthermore, Ambekar said MTN would look at other ways to enter the Indian market through smaller mobile operators, but that process would not be easy.
India's top five mobile operators were unlikely to sell a majority stake to MTN, analysts said.
They said there were many new licensees in India, who are yet to start operations and are looking for partners.
The top five are Bharti Airtel, Reliance Communications, Tata Communications, state-owned BSNL and Idea Cellular, which has recently bought smaller rival Spice.