Kuwait’s Zain expects huge returns from mobile deal with Airtel

www.WirelessFederation.com/news: Five billion dollars is expected to be made by Kuwait’s Zain telecom from selling its operations in Africa to India’s Bhrati Airtel for 10.7 billion dollars. As per the agreement, Bharti is to pay 10 billion dollars when the deal is completed and the remaining 700 million dollars after one year of signing the agreement.

Company’s shareholders’ equity will be increased by nine billion dollars after the sale of operations in 15 African nations.
Zain’s operations in Sudan and Morocco are excluded from the deal.