Zain denies the sale of its African assets

www.WirelessFederation.com/news: Reports that Kuwait operator Zain was in talks with Vivendi, France Telecom and Vodafone to offer a possible sale of the former Celtel networks has been denied by the telco. It was reported by a newspaper that Zain had been in talks with the other operators for the past couple of months and is seeking US$11-US$12 billion for its African assets.

Last year, Vivendi’s plan to buy the African networks, for a reported US$12 billion was said to be an all-share based transaction, with Zain taking 20 percent of Vivendi, in exchange for 10 percent of Zain Africa.

However, Vodafone recently increased its holdings in South Africa based Vodacom to 65%,