India's largest cellular service company Bharti Airtel will invest USD 600 million in Nigeria's mobile market following its take over of Zain Telecom's African business for around SUD 10.7
The telecom industry topped the chart in terms of merger and acquisition deals valued at $ 22. 73 billion across all sectors in the April-June quarter of 2010-11
Zain Telecom today said it would earn USD 3. 3 billion from sale of its African assets to Bharti Airtel for USD 10
Shares of Bharti Airtel today gained nearly three per cent on the Bombay Stock Exchange (BSE) after the Indian firm announced signing of the mega USD 10.7-billion deal to
Bharti Airtel gained over three per cent on the BSE amid reports that the board of Kuwait's Zain Telecom has accepted the Indian firm's $ 10.7 billion takeover bid
Emerging markets have seen a record $215 billion worth of merger and acquisition (M&A) deals so far this year on increased business activities amid an improving global economic situation.
"Emerging
Telecom major Bharti Airtel is in talks with the State Bank of India (SBI) to fund its USD 10.7-billion bid to acquire most of the African assets of Kuwait's Zain Telecom, a top bank official said.
Shares of Bharti Airtel today plunged over six per cent in the morning trade on the National Stock Exchange after the country's largest telecom firm said it has entered into exclusive talks with Zain Telecom for acquiring its African operations.
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