Zain has accepted Bharti offer for African assets, say sources

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The Zain Telecom board met in Kuwait today and is said to have unanimously accepted a $10.7-11 billion (around Rs 51,000 crore) offer from Bharti Airtel [ Get Quote ] to buy its African assets, according to television and agency reports.

The deal, which fits into Bharti’s global ambition after two failed attempts to strike an arrangement with South African telecom major MTN, will add 41.9 million customers to Bharti Airtel’s 125 million subscribers to put among the world’s top five or six telecom operators in the world.

Sources say that Bharti and Zain might go for exclusive talks to work out the details

- Source : http://indiagoogler.blogspot.com