Airtel Completes ZAIN Deal

Indian telco joins the big league with purchase of Zain's mobile operations in Africa for US$10.7B

June 8, 2010

1 Min Read

NEW DELHI -- Bharti Airtel Limited (“Bharti”) today took a giant step towards becoming a global emerging market telecom operator by completing the acquisition of Zain Group’s (“Zain”) mobile operations in 15 countries across Africa for an enterprise valuation of USD10.7 billion. With this acquisition, Airtel will become the first Indian brand to go truly global with a footprint that covers over 1.8 billion people. Bharti also becomes a major Indian MNC with operations in 18 countries across Asia and Africa with a customer base of over 180 million.

The transaction is the largest ever cross-border deal in emerging markets and will result in combined revenues of over USD 12.4 billion and EBITDA of over USD 4.7 billion, based on the last audited results. Bharti is now among the five largest mobile operators in the world.

Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti said, “We are delighted at the closure of this transformational deal for India and Bharti. We would like to express our deep gratitude and thank the governments of all the fifteen countries as well as the government of India for their overwhelming support to this landmark event. This will further strengthen the historic Indo-Africa economic & social ties and provide a big boost to South-South cooperation."

Bharti Airtel Ltd. (Mumbai: BHARTIARTL)

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