Bharti enters into exclusive discussions with Zain for the acquisition of Zain Africa BV
New Delhi, February 15, 2010 : Bharti Airtel Limited (“Bharti”) and Zain have agreed to enter into exclusive discussions until 25 March 2010 for the acquisition of Zain’s African unit (Zain Africa BV) based on an enterprise value of USD 10.7 billion. This potential transaction does not include Zain’s operations in Morocco and Sudan and remains subject to due diligence, customary regulatory approvals and signing of final transaction documentation. There can be no assurance that a transaction will be consummated. Further announcements will be made in due course.
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 and Sri Lanka. In South Asia, the company had an aggregate of over 125.3 million customers as of end December 2009, including 120.23 million mobile customers. 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 and Sri Lanka. 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