25 Mar 2010
(MENAFN) Zain’s board of directors has approved the $9 billion sale of most of its African assets to India’s Bharti Airtel, Reuters reported.
The deal Bharti Airtel will extend its reach into African emerging markets, and the contract is expected to be completed and signed in the coming few days.
Bharti announced lately that it had tied up the entire financing requirement of $8.3 billion, with major banks committing to underwrite the amount.
The Indian firm has failed twice to buy Africa’s biggest mobile operator MTN Group. The telecom firm is seeking to expand its operations and tap new markets as cut-rate competition in its home market squeezes margins and clouds its growth outlook.
It is worth mentioning that the Kuwaiti group Zain pulled back from an expansion spree last year and rejected an offer from France’s Vivendi for its African assets.
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
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