Bharti Airtel to takeover Zain Africa operations

Accra, March 27, GNA - Bharti Airtel Limited, a leading mobile operator in India is to takeover Zain operations in Africa soon. The Board of Directors of Mobil Telecommunications Company KSC, 'Zain', will soon sign the deal with the Indian company but which would exclude Zain's operations in Morocco and Sudan.

A statement copied to the Ghana News Agency on Saturday from the Corporate Affairs of Zain Ghana has said. "The Board of Directors of Zain met in Kuwait recently on Wednesday 24 March 2010, to review the latest developments and negotiations related to this matter.

"Representatives of Zain are pleased to report that due diligence process has been completed and that the parties are finalizing definitive agreements, which are expected to be signed in the coming days," it said. The statement said after signing, the parties would move towards getting any required approvals.

"It has been reported that Bharti has already secured the entire financing requirement of USD 8.3 billion for this transaction," it said. 27 March 10