Do you belong to those who think that doing business in emerging markets is difficult? Think about what happens if you’re from an emerging market trying to enter another emerging market. You’ll not only be facing the challenges typical of emerging economies in your target market, but in addition you’ll start feeling those from your home market as well. As happened in the recent case of Bharti Airtel of India and MTN Group of South Africa. The two companies just called off a $24 billion deal Wednesday after several months of intensive merger talks. People on both sides think that the reasons for the deal going sour lie with both the South African and the Indian governments. Among others, the politically motivated intentions to keep a flagship company listed in South Africa simply conflicted with the Indian regulatory environment.