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
- Transportation: Abu Dhabi Int’l Airport records 7% growth in Oct
- Retail: RTA to lease out last batch of retail outlets available on Red Line
- Transportation: Qatar to sign $25bn mega railway deal on Sunday - report
- Media & Marketing: UAE bags communication award
- Culture & Society: High quality services for UAE pilgrims in Medina
SHARE PRICE CHECK
RELATED STORIES
Zain
- Kuwait's Zain posts 52.8% drop in Q3 net profit
15 Nov '09 | News - Zain expects $1bn shortfall on 2009 revenue target
10 Nov '09 | News - BSNL to go direct to Zain if consortium talks fail
6 Nov '09 | News




