Zain rejects Vivendi offer to purchase Zain Africa

www.WirelessFederation.com/news: Zain has refused the French media group, Vivendi’s offer to purchase the majority stake in Zain Africa. The reports unveil that Vivendi had made an offer of $10.5 billion for a majority of  – 65% of the company’s shares.
Sources close to the deal has said that terms and conditions of payment had been the driving factor behind Zain’s rejection of the French offer.
Zain also reportedly revealed that its finicial position at present is strong and hence would opt for a beneficial offer.