InfoAnda - India's Bharti nears deal with Zain on Africa assets

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Actress Elizabeth Taylor dies at 79 | | 23 March 2011
Sarkozy, UN chief talk climate change in New York | 18 July 2009
Taliban return seen unlikely threat in reshaped Afghanistan | | 2 February 2012

UAE to suspend some Blackberry services | 1 August 2010

Forum Views () Forum Replies ()

Read more with google mobile : India's Bharti nears deal with Zain on Africa assets

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World India's Bharti nears deal with Zain on Africa assets AFP - Friday, March 26 Send IM Story Print India's Bharti nears deal with Zain on Africa assets Slideshow: Full Photo Coverage: Business & Economy NEW DELHI (AFP) - – India's top mobile firm Bharti Airtel said Thursday it expected to sign a "definitive" deal soon to buy the African assets of Zain, giving it a presence in one of the least developed phone markets. Bharti issued a statement saying it was working with Kuwait-based Zain Africa towards "finalizing" the deal valued at 10.7 billion dollars which would be the second-largest foreign takeover in Indian corporate history. The "definitive agreements are expected to be signed soon," Bharti added after Zain issued a similar statement. The takeover would mark the fulfilment of Indian billionaire tycoon Sunil Bharti Mittal's dream of gaining a major footprint in Africa. Bharti, which twice failed to forge a deal with South Africa's MTN Group, has been racing to expand abroad amid savage price wars in India's congested mobile market that have slowed revenues. The announcement came at the end of an exclusive talks period agreed by the two companies in mid-February. The deal would give Bharti combined sales of 13 billion dollars and clients in 15 African countries from Burkina Faso to Zambia and transform the group into an emerging market multinational. Shares of Bharti closed up 2.27 percent or 6.95 rupees at 313.75 on news that Zain's board on Wednesday had cleared the sale to the Indian company. But analysts said the takeover would require all of Mittal's legendary Midas touch to turn around Zains struggling African operations, particularly in Nigeria, the Kuwaiti company's key market, where it has been losing clients. The acquisition would give Bharti "a strong business opportunity," Angel Broking analyst Rahul Jain said, but added the company would face big hurdles. "It faces the challenge of integrating this acquisition, it has to deal with multiple geographies -- there will be 15 new markets, not just one market," Jain told AFP. Mittal, who built Bharti into an Indian telecom powerhouse in 15 years, said last month Africa represented "the most under-penetrated market in the world", offering huge potential growth for his company. The proposed takeover, dubbed Bharti's "African safari" by Indian media, values Zain's African assets at nine billion dollars. Bharti will also assume Zain's 1.7-billion-dollar debt, putting the deal value at 10.7 billion dollars. Under the agreement, Bharti, which already has 125 million Indian subscribers, would get 42 million new clients in Africa, making it the world's seventh-largest telecom company measured by subscribers. Zain will hang on to its operations in Sudan and Morocco. Analysts say Bharti will seek to duplicate its low-cost, outsourced model of operations in Africa in a bid to return the Kuwaiti company's networks to profitability. Bharti's former takeover target MTN would be one of its biggest rivals in Africa. The trick for Bharti, which pioneered low-cost telecoms in India, will be to bring down Zain's high cost base and win more subscribers, say analysts -- and to get subscribers to talk more using lower tariffs. Last weekend Bharti said it had raised 8.3 billion dollars to finance the takeover, adding the "financing was oversubscribed, with major international banks committing to underwrite the total amount". Mittal has said the deal would have an unspecified impact on Bharti's earnings "but in the long run, we are looking for a growth story in this. And therefore it's not a cause of worry". Recommend Send IM Story Print Related Articles Weil Gotshal tops M&A advisers as market opens up Reuters - 2 hours 18 minutes ago US-BUSINESS Summary Reuters - 2 hours 19 minutes ago Markets gain on earnings outlooks, financials Reuters - 2 hours 19 minutes ago US STOCKS-Markets gain on earnings outlooks, financials Reuters - 2 hours 22 minutes ago Saudi may shelve Ras Tanura refinery plan -sources Reuters - 2 hours 24 minutes ago News Search Top Stories Fed not yet ready to wind-down crisis aid EU, US see breakthrough in 'open skies' talks UN body rejects trade protection for marine species Pentagon eases rules on gay ban in US military Dubai World gets $9.5 bln injection for debt plan More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Dubai World gets $9.5 bln injection for debt plan Sharks, elephants to reappear on CITES agenda 'Rare' fossil of new dinosaur species found in US Africa's gorillas face bleak future: report Climate catastrophe ushered in the dinosaurs:study More Most Viewed » 'Rare' fossil of new dinosaur species found in US 'Britain's Fritzl' raped daughters for over 25yrs Researchers back cancer-fighting properties of papaya Hollywood stars help prevent suicide after Twitter alert Prince Philip in strip club gaffe More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Friday, 26 March 2010
Israel mulls gestures to Palestinians after U.S. trip
Iraq election very close, results due Friday
Germany, France line up Greek-IMF aid deal
YouTube suffers outage
Sarkozy's bitterest enemy launches rival party
Pakistani jets kill nearly 50 in tribal region |
France, Germany strike deal to aid Greece
S.Korea lawmaker challenges election limits on Twitter use
U.N. peacekeeping boss orders probe of Darfur ambush |
UN rights body narrowly passes Islamophobia resolution
Fed not yet ready to wind-down crisis aid
U.N.'s Ban frustrated and disappointed over Myanmar |
EU's Ashton lays out plans for new diplomatic service
EU, US see breakthrough in 'open skies' talks
Parliament groups reject EU diplomatic corps plan |
Merkel insists on IMF rescue ahead of EU summit
Taiwan Semiconductor invests in energy-saving technology
Carla prefers Sarkozy not to run again
UN body rejects trade protection for marine species
Bruni not keen on second term for France's Sarkozy |
Pentagon eases rules on gay ban in US military
Pakistan arrests suspects in British boy kidnapping
IBM develops anti-spam software for Chinese mobile operator
Dubai World gets $9.5 bln injection for debt plan
Key U.S. lawmaker backs FCC's spectrum plan
I'm no hacker, says man who cracked Obama's Twitter
Global pace of deforestation slows: FAO
British parties imitate Obama in e-election
Sweden ranked world's most networked economy
LG aims at 25 percent of global 3D TV market
Netanyahu back home with US-Israeli spat unresolved
Obama launches sales blitz for health reform
Bin Laden warns US not to kill 9/11 mastermind
Economy trumps ecology at UN wildlife meet
LG aims at 25 percent of global 3D TV market |
Fidel says he has nothing against Obama
Myanmar rulers urged to free political prisoners
Key lawmaker backs FCC's spectrum plan |
China bans poet from traveling to US conference
Prince Charles visits Afghanistan
Japan to propose moving half key US base off Okinawa: report
U.S. lead in nanotech eroding, report finds |
China, Afghanistan vow to fight terrorism, drugs
Hacker gets 20 years for U.S. payment card theft |
UN council deplores 'systematic' rights abuses in NKorea
U.N. slams rights abuses in North Korea
Indonesian court upholds anti-pornography law
Pakistan: Airstrikes kill 61 suspected militants
Three weeks to save iconic Hollywood sign: trust
Toyota accelerator lawsuits go to US court
India's Bharti nears deal with Zain on Africa assets
Indonesia seeks $90 bln for infrastructure
It's all over for "The Hills"
Denmark's 'Little Mermaid' heads to China
Lost Booker Prize shortlist announced
Former China magazine editor launches new media business
Indonesian zoo welcomes birth of 25 Komodo dragons
Westerners follow Thai brides to live in hard-up northeast
Pakistan's forex reserves ease to $14.81 bln
S.Lanka minister regrets Akon's cancelled concert
Indonesia closes private radio station
TIMELINE-Taiwan's interest rate changes since 2001
Taiwan govt blasted for backing mainland director's opera
Japan to end cargo-only flights in October
Cubans forget their worries in baseball rapture
PetroChina profit slides 9.7% in 2009
Taiwan cbank says loose policy over, H2 rate rise seen
Indonesian court protects culture from porn law
China's ICBC says 4Q profits jumps 58 percent
Bolivia eradicates coca crops amid local grumblings
Progress, frustration as Liberia rebuilds from scratch
Sarah Palin to star in television series on Alaska |
A Minute With: Holly Hunter on angels and Saving Grace |
Miley, less smiley, grows up and into film career |
Simon Cowell to get international Emmy award |
It's all over for The Hills |
American Idol narrows to top 10, Paige Miles out |
Harry Potter park to open in June in Orlando |
Netanyahu aide sees accord with U.S. on Jerusalem |
EU's economic 'government' lost in translation
Myanmar junta prepares for final salute |
Pakistan troops kill 24 militants after attack |
Key lawmaker backs FCC's spectrum plan
Hacker gets 20 years for U.S. payment card theft
China VP due in Sweden as Volvo takeover nears
Bag With $100,000 Falls Off Armored Truck, Only $13,000 Returned
Hacker Sentenced To 20 Years For Data Theft
US Congress passes 'fixes' to landmark health law
Wall Street Journal to charge 17.99 dollars a month on iPad
Chatham County (N.C.) Courthouse Engulfed In Flames
U.S. Congress approves final healthcare changes
U.S. firms' security concerns grow in Mexico: poll |
Loan Modifications Up From Last Year, But Re-Defaults Are Too
US newspaper ad revenue down 27% in 2009: NAA
Pentagon makes it harder to expel gays in military
Malaysia's Anwar sodomy trial postponed until May |
Fed not yet ready to wind-down crisis aid
U.S. lead in nanotech eroding, report finds
Mexico arrests 'King of Heroin'
EU, U.S. aid groups to pledge about $2.7 billion for Haiti |
Replica of U.S. slave ship sails into Havana |
U.S. Students Only Average In Reading, Nation's Fourth Graders Show No Improvement Over 2007
Aussies on 4th track gold, Hoy saves Brits' blushes
Defense Department Modifies Don't Ask, Don't Tell Policy on Discharging Gays
Global Weather-Celsius
U.S. Markets Finish Mixed As Early Rally Loses Steam
Weather forecast for the Asia-Pacific region
N.Korea vows nuclear attacks to defend its regime
Chaotic Philippine election season in full swing
Endangered French cheeses cry out for help
S. Korean anti-Pyongyang leaflets go digital
'Missing' portrait of Aussie outlaw posts record price
Fox Affiliate Sources Say Conan O’Brien Deal Not Definite
Harry Potter park adds new characters
Rihanna's Rude Boy remains atop Hot 100 |
Bikini-clad wife puts Roddick in the shade |
Pakistan: 5 soldiers, 21 alleged militants killed
5 Pakistani soldiers, 21 militants killed in NW
The Times of London to charge for website
Russia bans Hitler's 'Mein Kampf'
Israel could use tactical nukes on Iran-think-tank
Britain's Times, Sunday Times to charge for websites
News Corp to charge for UK Times online from June
VW to raise 4.2 bln euros at 65 euros per share
U.N. tells Iran to end Eutelsat satellite jamming
North Chile hit by 6.2 quake, no damage reported |
Beware online knights in shining armor, US Army warns
Japan PM admits mistakes, asks voters for patience |
South Korean ship sinking, North attack suspected: report |
Iraq vote results near, Maliki backers urge recount |
Iraq awaits full election results amid tight race
Hamas says it attacked Israeli troops entering Gaza |
Scandal-plagued Catholic order apologizes to victims |
U.N. rights forum condemns Myanmar, extends probe |
Pirates attack Turkish ship off Nigeria, 3 injured |
Rio China trial defendant says treated fairly
New Zealand reaffirms Fiji sanctions
US-TECH Summary
Sentence upheld in China liquor bribery case
Japan PM admits mistakes, asks voters for patience
Fire at Indian army arsenal triggers explosions
Japan finalizing US base relocation proposal
Indonesian provinces plan to ignore anti-porn law
No change in policy on Jerusalem: Israel PM
News Corp to charge for UK Times online from June |
Hamilton quickest in Australian GP practice
Angry Cambodian mob kills motorcycle thieves
NKorea threatens 'nuclear strikes' on SKorea, US
Pakistani rupee eases vs dollar; stocks edge higher
Toyota stopping output in UK, France for 9 days
HK bank workers held in Lehman investments case
Toyota to halt UK, France production for 12 days
S.Korea refiners likely to raise ESPO imports -trade
Nissan, Renault, Daimler eye cross-shareholding: reports
Seoul shares end up on shipping firms, Korea Life
Electric car design to err on conservative side
Ridley Scott's 'Robin Hood' to open Cannes festival
FACTBOX-South Korea's five biggest IPOs
Noel Gallagher rolls back the years at solo gig
Abba may reform for one-off show
China could resume flexible exchange rate: adviser
Museum exposes Elvis, "the threat" to American morals
Indian wine lovers offer tasty target to vineyards
'Heroes' actress visits Japan dolphin hunt town
Could Abba be ready for a one-off reunion? |
Film composer Paul Dunlap dies at 90
Dragon poised to slay box-office competition |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01