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Bharti Airtel [Get Quote] said on Thursday it is now up to the South African telecom entity MTN to decide whether there is any possibility of resuming talks with the company for a possible alliance.

"There were always synergies between both the companies to have an alliance. That is why we went up to a certain stage of our discussion with them," Bharti Airtel CFO Akhil Gupta said.

Whether talks can be resumed with them after the breakdown of negotiations with Anil Ambani-led Reliance Communications [Get Quote], he said, "Nothing has happened as yet. It is speculation at this stage to say if anything can move ahead from here between Bharti Airtel and MTN. Let's wait. . ."

Asked if there has been any feelers to each other on a possible restarting of talks, he said, "It is for MTN to decide. What future will hold is hypothetical." 

Gupta, however, clarified that the company's stand on the structure of the alliance has not changed.