Deals
Bharti Completes $9 Billion Purchase of Zain Africa
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Billionaire Sunil Mittal’s Bharti Airtel Ltd. said it completed its $9 billion purchase of the African assets of Kuwait’s Mobile Telecommunications Co., also known as Zain.
The acquisition gives Bharti an “unparalleled footprint,” Mittal said at a briefing in New Delhi today. The combined business will have 180 million customers and generate earnings before interest, tax, depreciation and amortization of $4.7 billion on revenue of $12.4 billion, according to Bharti.