Bharti Scoops Up Zain's Africa Telecoms For $11B

Law360, New York (March 30, 2010, 7:20 PM EDT) -- Bharti Airtel Ltd., India's largest cellular carrier, has inked a deal to acquire nearly all of Zain Group's African business for $10.7 billion, finally gaining a foothold in the largely untapped market after previous failures.

Zain, formerly known as Mobile Telecommunications Co. KSC, announced the signing of the deal Tuesday after a preliminary agreement was reached between the two companies March 24. Zain is passing over all its African assets excluding those in Sudan and Morocco.

Bharti will pay $8.3 billion up front and an additional...
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