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Zain Group approves sale of Zain Africa assets |
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News -
Business News
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Sunday, 14 February 2010 23:36 |
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KUWAIT, Feb 14 (KUNA) -- The board of directors of Kuwait's Mobile Telecommunications Co. (Zain Group, formerly MTC) has on Sunday unanimously approved the sale of the group's assets in Africa to the Indian Bharti Airtel
, one of Asia's leading telecom service providers. Bharti Airtel's bid to buy Zain Africa assets in the Black Continent except for those in Sudan and Morocco proved successful, officials of Zain Group confirmed in statements to KUNA here after the board meeting. The bid involves up to USD 10.7 billion of investments. Earlier in the day, Kuwait Stock Exchange (KSE) announced the suspension of Zain stocks until the group decides on sale of its affiliate in Africa - Zain Africa. - Kuna
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