Mergers and acquisitions have always proved an elusive quarry for the Gulf’s bankers, but this may be changing. In the first quarter of this year, mergers and acquisitions in six Gulf Cooperation Council countries has amounted to $3.6bn, a figure close to the total amount of M&A activity for 2009, according to research released today.
And this first quarter figure, compiled by Mergermarket statistics, doesn’t even include the Bharti Airtel mega acquisition of Kuwaiti Zain’s African telecoms operations, valued at $10.7bn, to be completed later this year.
Are Gulf countries bucking the trend, and is this evidence of more merger activity a sign of things to come?
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