Bharti makes acquisition in Seychelles

Indian telecom company Bharti buys Telecom Seychelles, marking the 16th African country in its global footprint.

India's Bharti Airtel is set to buy Telecom Seychelles for $62 million, in the same week as it posted quarterly results.

Bharti, India's biggest mobile phone company, is already an established player in Africa. Earlier this year, it paid $10.7 billion for Zain Africa and, given the size of the deal, worked with a host of banks Standard Chartered as lead adviser Barclays Capital as joint lead adviser State Bank of India as lead onshore adviser and Kuwait-based firm, Global Investment House KSCC as regional financial adviser.

The Seychelles acquisition takes Bharti’s Africa footprint to a total of 16 countries. Bharti did not have an adviser on the Telecom Seychelles deal.

Telecom...

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