MTN pulls plug on Orascom talks
MTN has formally ended talks with Weather Investments, the parent of Egypt’s Orascom Telecom, dealing another blow to the SA-based cellphone group CEO Phuthuma Nhleko. The termination of the talks with Orascom’s parent brings to the three the number of high profile but failed potential deals that Nhleko has tried unsuccessfully to pull off in the past tw
Bharti bags Zain deal, eyes Africa growth
India’s largest mobile operator, Bharti Airtel, said on Tuesday it had sealed a US$10,7bn deal to buy Zain’s African assets, ranking it among the world’s top five cellular players. With the acquisition, the second-largest foreign takeover in Indian corporate history, Bharti will acquire Kuwait-based Zain’s African mobile services operations in 15 countries, including Kenya, Nigeria [...]
Bharti boss on cusp of realising Africa mobile dream
Indian telecommunications tycoon Sunil Bharti Mittal is on the cusp of achieving his dream of building a presence in Africa with a planned US$10,7bn buy-out of assets from Kuwait-based Zain. But analysts say Mittal, a self-confessed business “junkie” always hungering for the next deal, will need all his entrepreneurial chutzpah to turn around Zain’s loss-making [...]
Bharti, Zain set to ink Africa mega deal
Shares in India’s Bharti Airtel edged higher Tuesday on reports it would sign a US$10,7bn deal to acquire the African telecommunications assets of Kuwait’s Zain. Officials at the New Delhi-based firm declined to comment, citing confidentiality rules, but Kuwait’s Al-Watan daily reported the signing would take place Tuesday at the headquarters of Zain Africa in [...]
Bharti close to securing $10,7bn Zain deal
Kuwait’s Zain said on Thursday it expects to close a $ 10,7bn deal with India’s Bharti Airtel “within days” for the sale of its operations in 15 African countries. “The (Zain) board is pleased to report that the due diligence process has been completed and that the parties are finalising definitive agreements, which are expected to [...]
Bharti ties up $8,3bn in finance for Zain deal
India’s largest telecommunications operator, Bharti Airtel, has finalised US$8,3bn in financing needed for its proposed acquisition of the Africa assets of Kuwait’s Zain, Bharti said on Sunday. “The financing was oversubscribed, with major international banks committing to underwrite the total amount,” Bharti said in a statement. Zain accepted a $10,7bn offer from Bharti Airtel in February to [...]
Why moving on is hard for MTN’s Nhleko
“It’s difficult to let go.” Phuthuma Nhleko, MTN’s group president and CEO, sounds almost rueful when I ask him why he’s decided to hang up his hat at the mobile operator. “You do a lot of soul searching,” he tells me in an interview at the Melrose Arch Hotel in Johannesburg, a day after presenting [...]
Zain agrees to exclusive talks with Bharti
Kuwaiti telecommunications provider Zain said Monday its board agreed to enter into exclusive talks until March 25 with Bharti, India’s largest cellphone operator. Zain said a day earlier it had received a bid for the African division from an unnamed suitor, but did not name the price or respond to unsourced reports that a deal [...]
India’s Bharti said be eyeing $10bn Zain deal
Kuwaiti telecommunications operator Zain said Sunday it is considering an offer for most of its Africa businesses, a day after local media reported a bid was on the table from India’s Bharti Airtel worth up to US$10,7bn. Africa has become a key region for the Gulf mobile phone operator, known officially as Mobile Telecommunications Co, [...]
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