Zain receives $10.7 billion offer for African assets
Bharti Airtel offer to be discussed by teleco’s board soon, says newspaper.
February 13, 2010 8:06 by kippreport
Zain, Kuwait’s biggest phone company, has received a formal $10.7 billion offer from Bharti Airtel for most of its African assets, according to the Al-Rai newspaper.
The offer, which does not include purchasing Zain’s operations in Sudan, is to be discussed soon in a Zain board meeting, the newspaper said.
The news follows the announcement that Zain’s chief executive officer has resigned just one month after the company’s second-largest shareholder said it may delay the sale of its stake in the Kuwait company.