Bharti Airtel has entered into a legally binding definitive agreement with Zain Group to acquire Zain Africa BV based on an enterprise valuation of US$ 10.7 billion.
Under the agreement, Bharti will acquire Zain`s African mobile services operations in 15 countries with a total customer base of over 42 million. Zain is the market leader in ten of these countries and ranks second in four countries. With this acquisition, Bharti Airtel will be the worlds fifth largest wireless company with operations across 18 countries. Bharti groups global telecom footprint will expand to 21 countries along with the operations in Seychelles, Jersey, and Guernsey.
Source :www.biginfotech.in
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