"We tried Indians and it did not work... So we will look at other channels and there will be people looking at MTN as well," UK daily Financial Times quoted a senior MTN executive as saying.

Another report in South African financial daily 'Business Day' said that MTN's failed bids may "open door to alternative offers".

"MTN's Indian adventure is now over and it's been a pretty bruising affair... MTN was extremely unlucky that things panned out the way they did...," it said, adding thereafter talks turned sour with RCOM also.

However, the Business Day report noted that MTN "clearly has good prospects on its own."

"But it is also now a target. Having placed itself on the international stage, it will find alternative offers difficult to deflect.

"It may be that deal-making involving MTN has not in fact ended but just begun," the Business Day report said.

"The sad truth is that the image of Indian business practice and deal-making has taken a big hit. MTN also did not come out unscathed. Clearly, its due diligence in both negotiations was extremely lacking, otherwise it might have thought harder before entering discussions with either group," it noted.

Financial Times said that MTN and RCOM would now "face questions from investors as to how they intend to prolong the rapid growth that has been their hallmark to date."

Meanwhile, shares of RCOM gained nearly 3 per cent on Monday on the Bombay Stock Exchange in the first trading session after the collapse of talks late last week, while those of MTN turned weak.

The daily noted that MTN's chief executive Phuthuma Nhleko stated that the firm's ambition is "to be the leader in telecommunications in emerging markets."

Quoting the senior executive of MTN, the newspaper said that in the short term, there is plenty of room to expand coverage in countries such as Nigeria, Sudan and Iran. The group will also continue to study further acquisitions in the region "when it makes business sense," it added.

"Quite apart from the damage to corporate India's reputation the Ambani acrimony has caused, the end of talks with MTN marks a second defeat in 18 months for Reliance's ambitious growth plans. Last year, it lost the struggle to buy control of Hutchison Essar, India's fourth-largest mobile operator, to Vodafone of the UK," the UK daily noted.

"Twice thwarted," the report added that Reliance Communications is expected to return to the task of rolling out its nationwide wireless network based on GSM in addition to its existing CDMA network.

According to the newspaper, Reliance is expected to give an update on its plans this week, while MTN would deliver half-yearly results at the end of next month.

"By 2010, there will be 1.5 billion more mobile users than there were in 2006, the consultancy Gartner calculates, nine out of 10 of whom will live in emerging markets.