Airtel’s acquisition of zain in africa. 1. Annexure-V- Cover Page for Academic Tasks Course Code: MGT Course Title: Corporate. NEW DELHI/MUMBAI: The board of Kuwait’s Zain Telecom has accepted a $ -billion (Rs 49, crore) offer from Bharti Airtel for the bulk of. Mittal’s firm Bharti Airtel had ventured in Africa market with USD billion (or about Rs 48, crore at that) acquisition of Kuwait-based Zain.
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The company has now million subscribers in 18 Asian and African nations. The company announced that it would launch the Airtel brand in Zain’s operations in all the 15 nations in October. Bharti finally entered Africa after aborting negotiations twice for merger with MTN sincewith Mr. Mittal stating that in the Zain’s case Airtel would have a total control.
Bharti Airtel completes Zain acquisition – The Hindu
He said Zain Africa would now be per cent subsidiary of Bharti International. This deal would signal many new investments that would go to Africa, he added. At present, China Mobile is the world’s largest mobile player with a subscriber base of million, followed by Vodafone millionTelefonica million and American Movil million.
Zain has operations in 17 countries in the region and is claiming to be the second largest operator after MTN. Asked whether he regretted missing a deal with MTN twice and whether that was his first choice, Mr. In MTN’s case, we would have had board control but no management control and no change in brand. Zain is the second largest operator and that is the only difference. acquisituon
Airtel acquires Zain’s Africa business for $ billion
But we will afric full control and our own brand. We are looking at more opportunities as we build more roll outs in Africa,” he remarked.
The company has also reached a settlement with Broad Communications, the single largest shareholder in Zain Nigeria, following which its chief Otudeko would now head Bharti’s operations in Nigeria. The company does not see any problem with another small shareholder Econet Wireless in Nigeria. Printable version Jan 1, 4: Special Correspondent New Delhi, June 08, December 15, Related Topics Fo Companies new service.
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