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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
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
01 Mar 2023
You could be the next lucky winner.. BBK: BD 1.9 million prizes from Al Hayrat this year
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