Africa: India’s Bharti Places U.S.$10 Billion Bid for Zain Africa

source: allAfrica
Business Daily (Nairobi)
Kui Kinyanjui
16 February 2010

Kuwait-based mobile phone firm Zain’s acceptance of a $10.7 billion offer for its Africa operations promises a major realignment of the wireless telecoms landscape on the continent, analysts said, citing a possible renewal of market share wars in countries such as Kenya.

The Kuwaiti firm, which has been looking for a buyer of its Africa operations since early last year, said its board had accepted the Valentine’s Day bid from India’s Bharti Airtel but warned that the deal remains subject to completion of due diligence by the potential buyer and approvals from the relevant regulatory authorities.

“This potential transaction remains subject to due diligence, customary regulatory approvals and signing of final transaction documentation. There can be no assurance that a transaction will be [continue reading]

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