Visit other sites in the Know Your Mobile network
Bharti Airtel seals Zain deal
India's top telecom player Bharti Airtel has now become the world's fifth largest mobile operator after its successful acquisition of Kuwait's Zain Telecom's Africa operations for $10.7 billion
Bharti Airtel has now over 180 million subscribers base in 18 Asian and African nations
Published on Jun 9, 2010
Announcing the completion of the deal at a press conference, Bharti group Chairman Sunil Mittal said "the transaction is the largest ever cross-border deal in an emerging market and will result in combined revenues of about $13 billion.'"
Mittal further added that Zain Africa would now be 100 per cent subsidiary of Bharti International. This deal would signal many new investments that would go to Africa.
The largest overseas acquisition of assets in Africa by an Indian company, Zain Africa will be renamed Bharti Airtel International BV. The company stated that 15 top Zain executives will move to India and the launch of Airtel brand in Zain's operations in all the 15 nations will happen in October.
With Zain Africa's 42 million customers, Bharti Airtel has now over 180 million subscribers base in 18 Asian and African nations. Airtel has now entered the top 5 telecom operators league which has China Mobile leading the chart with a subscriber base of 522 million, followed by Vodafone (348 million), Telefonica (206 million) and American Movil (201 million).
More Stuff >>
