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.
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.