bharti-tables-107-billion-offer-for-zain-africa

Bharti tables $10.7 billion offer for Zain Africa

India's Bharti Airtel makes its third attempt in two years to acquire an African business, this time with a $10.7 billion offer for Zain's African operations.

India's Bharti Airtel confirmed over the weekend that it is in exclusive discussions until March 25 to acquire Kuwait-based Zain's African unit based on a firm value of $10.7 billion. The deal currently being discussed does not include Zain's operations in Morocco and Sudan and is still subject to due diligence, regulatory approvals and the signing of final transaction documentation.

Bharti will pay $10 billion to Zain on closing and the remaining $700 million one year after closing. There is a break fee of $150 million applicable to both Bharti and Zain.   

Bharti has already made two attempts to establish itself in Africa through an acquisition. In May 2008...

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