Kuwait's Zain telecom said on Tuesday it has completed the sale of its operations in 15 African nations to India's Bharti Airtel for 10.7 billion dollars (9 billion euros).Kuwait's largest mobile operator said it has already received 7.87 billion dollars as part of the "largest telecom deal in Africa and the Middle East," and will receive 400 million dollars more within 12 months, after completing "certain official requirements."Zain will also receive another 700 million dollars one year from now.
"I announce here today that we have completed the deal to sell African operations to Bharti Airtel," Zain CEO Nabil bin Salamah told a news conference. The sale does not include the company's units in Sudan and Morocco.
For more details on the news item check the link http://news.yahoo.com/s/afp/20100608/wl_mideast_afp/kuwaitindiaafricabhartizaincompanymerger_20100608122329
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