New Delhi, March 25, 2010 : Further to our announcement regarding the acquisition of Zain Africa BV, we would like to report that the due diligence has been completed.
Bharti is now working with Zain towards finalizing the definitive agreements which will address all key terms and findings arising out of the due diligence.
Definitive agreements are expected to be signed soon. Upon signing, the parties will move towards obtaining any required approvals.
Bharti has already secured the entire financing requirement of USD 8.3 Billion for this transaction.
About Bharti Airtel Limited : Bharti Airtel Limited, a group company of Bharti Enterprises, is among Asia’s leading integrated telecom services providers with operations in India, Sri Lanka and Bangladesh. In South Asia, the company had an aggregate of over 134 million customers as of end February 2010, including 124.6 million mobile customers in India. Bharti Airtel has been ranked among the six best performing technology companies in the world by BusinessWeek.
Bharti Airtel is structured as four strategic business units - Mobile, Telemedia, Enterprise and Digital TV. The mobile business offers services in India, Sri Lanka and Bangladesh. The Telemedia business provides broadband, IPTV and telephone services in 95 Indian cities. The Enterprise business provides end-to-end telecom solutions to corporate customers and national and international long distance services to carriers. The Digital TV business provides DTH services across India. All these services are provided under the Airtel brand. Airtel’s national high-speed optic fibre network currently spans over 118,337 Rkms across India. Airtel's international network infrastructure includes ownership of the i2i submarine cable system and consortium ownership in five global undersea cable systems, SEA-ME-WE 4, EIG, I-ME-WE, AAG and UNITY. For more information, visit www.airtel.in