Bharti completes acquisition of Zain's Africa business for $10.7 bn-Telecom-News By Industry-News-The Economic Times

In the largest ever telecom takeover by an Indian firm, Bharti Airtel on Tuesday completed a deal to buy Kuwait-based Zain Telecom's African business for $10.7 billion (about Rs 48,000 crore). ( Watch )

Announcing the closure of the deal, Sunil Mittal said, "We are delighted at the closure of this transformational deal for India and Bharti Airtel. The transaction is the largest ever cross-border deal in an emerging market and will result in combined revenues of about $13 billion."

On March 30, 2010, Bharti had entered the deal to acquire Zain Telecom's operations in 15 nations, excluding Sudan and Morocco. Zain has operations in 17 African countries.