Bharti Chief thanks partners after signing Zain Africa deal

www.WirelessFederation.com/news: With the consummation of the US$10.7 billion deal with Zain Africa, Bharti Airtel chief Sunil Mittal extended his gratitude to its partner Sing Tel for providing its much needed support. As a co-promoter, SingTel holds 31 per cent stake in India-listed Bharti Airtel and therefore its support is critical to any major M&A deal by the company.

According to Bharti Airtel Chairman and Managing Director Sunil Mittal who signed the deal in Amsterdam, the extremely tight time lines and the enormity of the task posed a real challenge. Bharti was able to achieve this important milestone through much hard work and support from SingTel and the external advisors.

All the team members involved in the completion of this hyped deal was also thanked by Mittal making the company world’s fifth largest mobile operator in terms of subscriber base and second largest in terms of population covered by its services. Representatives of the Singapore based telecom giant, Sing Tel have been present in almost all the board meetings discussing the transaction.