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FINANCIAL NEWS
Bharti to buy Zain’s African assets for $10.7b
15 Feb 2010
(MENAFN) Kuiwaiti telecom group Zain announced its consent to offload its African assets to India’s Bharti Airtel, for $10.7 billion, KUNA reported.
Under the agreement, the Indian telecom firm will pay Zain $10 billion by mid-April, and the remaining amount of $700 million will be paid before the end of this year, CNBC Arabia reported.
Zain, the third-biggest telecoms operator in the Middle East, is marking one of the biggest cross-border transactions in the region in years.
Analysts expect that Zain would pay a special dividend to shareholders from the proceeds of this deal.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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