Wednesday 24 March 2010
Zain set to agree Africa asset sale to Bharti
Kuwait’s Zain is expected to approve the sale of most of the company’s African telecommunications assets to India’s Bharti Airtel for about $10.7bn at a board meeting on Wednesday, clearing the last big hurdle facing the deal, people familiar with the matter said.
The decision will pave the way for the creation of one of the world’s biggest international emerging market telecoms groups.
The board’s approval, expected after a similar decision by Bharti last Saturday, would come ahead of the March 25 deadline for an agreement between the two companies.
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