Bharti, RCom in race to buy Zain group’s Africa biz: Report
Leading Indian telecom players Bharti Airtel and Reliance Communications have joined the race to acquire the African business of Kuwait-based Zain Group, says a media report.india Updated: Jun 22, 2009 22:58 IST
Leading Indian telecom players Bharti Airtel and Reliance Communications have joined the race to acquire the African business of Kuwait-based Zain Group, says a media report.
“Two Indian telecom firms, Bharti and Reliance Communications, have joined the fray to acquire the African business of the Zain Group of Kuwait,” South Africa’s newspaper BusinessDay has reported quoting sources close to the development.
The newspaper in a report published online said that Bharti and RCom have joined French company Vivendi, which is still locked in discussions with the Kuwait group for a “business valued at USD 12 billion”.
Currently, Bharti is in talks with South African telecom major MTN for a partnership that could lead to the merger of the two entities.
Last year, both Bharti and RCom had made bids for MTN but the talks failed.
According to BusinessDay, big foreign players have in recent times been struggling for a foothold in the emerging markets of Africa, particularly Nigeria.
First Published: Jun 22, 2009 22:56 IST