Zain looks to close $12bn deal to sell Africa unit - report
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 09 June 2009
Kuwait telecom operator Zain is seeking to close a $12 billion deal to sell its unit Celtel Africa to a French company, it was reported on Tuesday.
Mobile Telecommunications Company (Zain) is waiting to hear from the likely buyer but will study other options if the deal falls through, Kuwaiti Arabic daily Al Qabas reported, citing sources close to the deal.
It is understood that the French company, which has not been named, would also buy Celtel Africa's debts, leading to a discount in the price.
advertisement
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST TECHNOLOGY
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST TECHNOLOGY
LATEST MIDDLE EAST BUSINESS NEWS
- Politics & Economics: Saudi GDP to grow 3.8% in 2010 โ Jadwa Investment
- Transportation: Dubai sees 22% rise in air passengers in Feb
- Technology: Zain seen giving up on global plans - analyst
- Politics & Economics: Kuwait sees drop in number of expat workers
- Retail: House of Fraser signs 10-year lease for Abu Dhabi store
SHARE PRICE CHECK
RELATED STORIES
Zain - Kuwait
- Zain seen giving up on global plans - analyst
22 Mar '10 | News - Bharti gets $8.3bn in funding for Zain purchase
21 Mar '10 | News - Zain shares rise after India's Bharti deal
21 Mar '10 | News





