Bharti Airtel edges closer to Zain Africa deal

Report says India's largest wireless operator plans to bid for Zain's African assets by March 25th.

Tags: Bharti AirtelIndiaKuwaitZain - Kuwait
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Bharti Airtel edges closer to Zain Africa deal Bharti Airtel's board is reported to have met yesterday to discuss the $9bn bid. (Getty Images)
By  ITP.net Staff Writer Published  March 21, 2010

Bharti Airtel is expected to bid for Kuwaiti telco Zain's African assets within the next week.

Bharti Airtel's board met yesterday to discuss its proposed US$9 billion bid for Kuwaiti telecom group Zain's African units, according to a Reuters report.

The newswire cited an unnamed source, who said that the two sides may seal a deal as early as next week.

"Currently Bharti is aiming to meet the March 25th deadline, but there could be a slippage of a day or two," the source was quoted as saying.

If the deal goes ahead, it would give India's largest mobile operator an additional 42 million customers spread across 15 countries.

Bharti previously tried to enter the African telecoms market through a deal with South Africa's MTN, but the planned merger foundered over regulatory approvals.

2798 days ago
Gix

if they acquire Zain, will they change the name? if so, it will be a disaster for the brand equity, and they will loose more than 40% of their client across Africa. the transition should be done like philips did. Zain is already not mature in the market and they started to build credibilty toward the clientel...

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