08 Jun 2010
(MENAFN) Kuwaiti telecom firm Zain received $7.9 billion from Bharti Airtel and will soon announce the formal closing of its asset sale to the Indian company, Al-Rai newspaper reported.
The Kuwaiti newspaper cited informed sources saying that Bharti Airtel has transferred the sum to Zain’s account and a joint final closing statement is expected to be announced soon.
Zain spokesman said that the firm will advise the Kuwait stock exchange (KSE) and all the stakeholders as and when appropriate, but he declined to confirm the report.
In March, Zain made a $9 billion deal with India’s Bharti selling its operations in 15 African countries, excluding Sudan and Morocco.
It is worth mentioning that Zain’s shares were halted since May 30 pending the distribution of its 2009 cash dividend after its shareholders approved a cash dividend of 585 cents per share, which excludes distribution from the sale of some of Zain’s African units to Bharti.
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
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more