aman1987
Aman Jatt
New Delhi/Mumbai: The country’s largest telecom service provider — Bharti Airtel — today inked a definitive agreement with Kuwait’s telecom firm, Zain, to acquire its African assets at an enterprise value of $10.7 billion.
With this acquisition -- signed in Zain's headquarters in Amsterdam -- Bharti Airtel would become the fifth largest wireless company in the world, with a subscriber base of about 179 million across 18 countries.
Zain Africa has mobile operations in 15 countries with over 42 million customers. Bharti is expected to bring its brand name to the African market, where operations would be headed by Manoj Kohli, currently head of international business group.
Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel said: "This agreement is a landmark for global telecom industry and game changer for Bharti. We are excited at the growth opportunities in Africa and believe that the strength of our brand and the historical Indian connect with Africa, coupled with our unique business model, will allow us to unlock the potential of these emerging markets. "
Source: Bharti inks $10.7 bn Zain deal to become 5th largest - 1 - Business News - News - MSN India
With this acquisition -- signed in Zain's headquarters in Amsterdam -- Bharti Airtel would become the fifth largest wireless company in the world, with a subscriber base of about 179 million across 18 countries.
Zain Africa has mobile operations in 15 countries with over 42 million customers. Bharti is expected to bring its brand name to the African market, where operations would be headed by Manoj Kohli, currently head of international business group.
Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel said: "This agreement is a landmark for global telecom industry and game changer for Bharti. We are excited at the growth opportunities in Africa and believe that the strength of our brand and the historical Indian connect with Africa, coupled with our unique business model, will allow us to unlock the potential of these emerging markets. "
Source: Bharti inks $10.7 bn Zain deal to become 5th largest - 1 - Business News - News - MSN India
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